ING Vysya Bank Q3 PAT seen up 36% at Rs 113 cr

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ING Vysya Bank Q3 PAT seen up 36% at Rs 113 cr

Private sector lender ING Vysya Bank is expected report a profit after tax of Rs 113 crore in the third quarter of FY12, a massive growth of 36% as compared to Rs 83 crore in the corresponding quarter of last fiscal.

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Private sector lender ING Vysya Bank is expected report a profit after tax of Rs 113 crore in the third quarter of FY12, a massive growth of 36% as compared to Rs 83 crore in the corresponding quarter of last fiscal.

Net interest income is seen going up 28% to Rs 315 crore from Rs 246 crore year-on-year.

Expectations

 •          Loan growth expected to grow 23%

•          Deposit growth expected at 19%

•          Expect 20bps improvement in margins which is likely to lead 25% NII growth

•          Asset quality likely to be stable

•          Any improvement in asset quality, as has been the case in the past few quarters, will be a positive surprise
o         Q2FY12 was the 6th consecutive quarter for improvement in NPAs

 
Management guidance post Q2FY12 numbers

•          Expect NIMs to be relatively stable

•          May see some asset quality pressure from medium & smaller sized corporates

•          CASA may come off a little bit more in the next 2 quarters ((CASA fell to 32.6% Vs 33.8% in Q2))

•          Expect credit growth of 23% to 25% for FY12