ING Vysya Bank Q1 PAT seen up 21% to Rs 114 cr

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.