ING Vysya Bank posts 53% rise in profits
By Joseph Samson
Oct 18, 2011
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Private sector lender ING Vysya Bank has booked a 53% in its net profits for the second quarter of this fiscal. The net profits of the bank stood at Rs 115.4 crore as compared to Rs 75.26 crore for the same period in a fiscal prior to this.

The total income of the bank saw a 31.66% hike taking it to Rs 1095.53 crore in Q2 as against Rs 832.05 crore earlier.

"There is some pressure on the NIM due to the high interest rate regime. However, we are hopeful of maintaining our NIM at the current level," Chief Financial Officer Jayant Mehrotra said.

"We don't see pressure on asset quality despite repeated rate hikes," Mehrotra added.


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