ING Vysya Bank

This private sector bank did very well for Q3FY13. Net profit of the bank rose 36% (YoY) at Rs.162 crore and this was the thirteenth sequential quarter of PAT growth.  Net Interest Income (NII) was up 24% at Rs.403 crore and the market pretty enthused with the rise in NIM, which came in at 3.61% v/s 3.49%. Provisions and contingencies reduced by 24% (YoY) at Rs.25 crore but QoQ, this has been a very significant increase from Rs.6.4 crore. Gross NPA fell marginally from 2.02% to 2.01% (QoQ) and net NPA also fell to 0.05% from 0.31% (QoQ), indicating good asset quality.

Total Deposits were at Rs.37,691crores, up 19% while gross advances at Rs.32,153 crore, was up 20% (YoY). This was despite the the repayment in two large Telecom accounts during the period amounting to over Rs.1,800crores, otherwise the advance growth would have been significantly higher. Current and Savings (CASA) deposits grew by 16% at Rs. 11,934 crores and CASA ratio was at 31.7% of total deposits as at the end of December 2012 v/s 32.6% at the end of December 2011. The Capital Adequacy Ratio (CAR) of the Bank as at 31 December 2012 was 12.47% (as per Basel-II) v/s 13.04% (QoQ). During the quarter the Bank expanded its network with 5 new branches and at end of Q3FY13, total number of branches stood at 532.