ING Vysya Bank Q3 NII seen up 28% to Rs 315cr

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ING Vysya Bank Q3 NII seen up 28% to Rs 315cr

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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ALSO READ News and Notices about ING Vysya Bank See interviews with ING Vysya Bank Management See what other Experts & Brokerages are saying about ING Vysya Bank See previous Results of ING Vysya Bank ING Vysya Bank BSE | NSE 31/05/12 Are Mutual Funds betting on ING Vysya Bank?

By Avni Raja, CNBC-TV18

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

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