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ING Vysya Bank upbeat on strong Q4 outcome

May 4, 2007

ING Vysya Bank reported a net profit of Rs 18.39 crore for Q4 March 2007 against a net loss of Rs 24.65 crore in Q4 March 2006. Total income rose 34.1% to Rs 463 crore (Rs 345.17 crore).

For FY 2007 (year ended 31 March 2007), ING Vysya Bank reported a net profit of Rs 88.90 crore compared to a net profit of Rs 9.06 crore in FY 2006 (year ended 31 March 2006). Total income rose 17.2% to Rs 1595.70 crore (Rs 1361.61 crore).

Recently, the board of ING Vysya Bank had approved the raising of upper tier II capital through unlisted yen denominated bonds from the parent ING N V. The amount would be equivalent to Rs 100 crore and the bond would have a tenure of 15 years with a call option at the end of 10 years.

ING Vysya Bank has 136 ATMs in the country. The bank also has over six lakh debit card users.

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