ING Vysya Bank Q3 net up 198.33 pc

Mumbai, Jan 25 (UNI) ING Vysya Bank has posted a 198.33 per cent increase in net profit after tax for the quarter ended December 31, 2007, at Rs 42.75 crore from Rs 14.33 crore in the corresponding quarter last fiscal.

The profit before tax increased 239.35 per cent to Rs 72.35 crore from Rs 21.32 crore.

Other income for the quarter ended December 31, 2007, registered a growth of 124.13 per cent to Rs 90.37 crore from Rs 40.32 crore.

Provision and contingencies increased marginally by 6.82 per cent to Rs 27.74 crore from Rs 25.97 crore. The gross non performance asset (NPA) ratio improved to 1.81 per cent from 3.34 per cent and the net NPA ratio improved to 0.71 per cent from 1.27 per cent.

The Bank's deposits grew 24.28 per cent to Rs 17870.77 crore as at the end of December 2007 from Rs 14379.89 crore as at the end of December 2006.

Total assets of the Bank registered a growth of 22.69 per cent to Rs 22265.71 crore as at December 31, 2007, from Rs 18148.04 crores as at December 31, 2006. The credit deposit ratio stood at 75.03 per cent as at December 31, 2007 as against 75.29 pc as at December 31, 2006.

UNI AR MAZ VKG1934