Ind Vysya net jumps to Rs 89 crore

Bangalore, May 2 (UNI) Recording significant improvement, Ing Vysya, the major private sector bank today reported a net profit at Rs 89 crore for the year 2006-07, up by 882 per cent over the previous figures of Rs nine crore.

Total income during the just ended fiscal rose to Rs 1596 crore, against Rs 1362 crore during the corresponding period previous year and the total assets increased by 15 per cent to Rs 19,286 crore.

The net worth of the 75-year-old bank stood at Rs 943 crore, while capital adequacy ratio was maintained at 10.56 per cent.

Announcing the results Ing Vysya Managing Director Vaughn Richtor said the Board, which met here today, had proposed a dividend of 6.5 per cent. "I am delighted to report significant improvement in banks operating results. Though we still have more work to do, we are pleased with the progress," he added.

UNI