ING Vysya Bank Q1 Profit up 60% at Rs 40.63 cr

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New Delhi, Jul 21 (UNI) ING Vysya Bank today said its net profit increased 60 per cent to Rs 40.63 crores for the quarter ended June 30, 2008 from Rs 25.32 crores in the same period last year.

The Net Interest Income (NII) for the quarter increased by 52 per cent to Rs 157.97 crores from Rs 103.84 crores and Fee and Other income registered a growth of 49 per cent to Rs 127.88 crores from Rs 85.83 crores driven by strong growth in both retail and wholesale segments, company said in a statement.

As on June 30, 2008, the net worth of the Bank stood at Rs 1,467 crores and the capital adequacy ratio stood at 10.38 per cent.

''In this changing economic environment, we are pleased to report continued improvement in the core operating performance of the Bank.

We remain focused on profitable growth and expanding the franchise,'' Managing Director Vaughn Richtor said.

UNI MP AK RN1958

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