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Jul 24, 2012, 12.43 PM IST
Private sector lender ING Vysya Bank will report its first quarter earnings today. Analysts on an average expect profit after tax to grow by 21% year-on-year to Rs 114 crore in the quarter ended June 2012.
Net interest income is likely to increase by 23% to Rs 322 crore during the same period, according to CNBC-TV18 estimates.
Analysts expect loan book growth of more than 20% and deposit growth more than 15%. In the March quarter, the bank's loan growth was at 22% and deposits at 17%.
Margins could be pressured quarter-on-quarter due to higher share of priority sector loans in the first quarter of FY13, but overall it expect to be at the same levels of FY12 (3.3%). Net interest margin was at 3.29% in fourth quarter of FY12 as against 3.49% in the previous quarter.
Asset quality has been stable for the bank. During the quarter, the bank, in a meeting with investors, said despite 30% SME exposure asset quality should be stable.
In the quarter ended March 2012, asset quality was stable with gross non-performing asset stood at Rs 563 crore as against Rs 538 crore QoQ and net NPA at Rs 52 crore versus Rs 80 crore.
Tags: ING Vysya Bank
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