ABOUT THE STOCK
ING Vysya Bank Ltd. Was formed in the year 1930. ING Vysya Bank Ltd., is an entity formed with the coming together of erstwhile, Vysya Bank Ltd, a premier bank in the Indian Private Sector and a global financial powerhouse,
Though it seems to be very odd that in spite of it its 80 years of existence , the awareness among the public is still very low comparatively to the other Private sector bank , with whom the public is more familiar to alike ICICI Bank. HDFC Bank etc….
ING VYSA Bank had 896 outlets comprising of 491 branches and extension counters, 28 satellite offices and 377 ATMs.
ABOUT THE FINANCIALS
INg Vysa Bank has posted good results for Q3FY11. At a glance it could be noticed that YoY net profit rose 37% at Rs.83 crore. Return on Assets improved to 0.88% against 0.80%. The provision cover has gone up sharply from 45% to 76%. NII rose 12% and total income by 18%. The CASA ratio was at 33.5% against 32.2% . Deposits were up 16% of which CASA deposits were up 21%. Gross advances rose 24%.
NEWS FLASH
The bank is trying to have better network and has spread it operating branches and Atm’s
across the country slowly but steadily.During the quarter, the Bank opened 3 new Branches and 10 ATM outlets
MY VIEW
I am a bit unhappy the excessive low pace in growth of the company, which may due to slow or incompetent management. Unlike the other competitive bank the company is still far away from the ruling private bank , instead of its existence much beofre them. I am not sure , whether the investors could be awarded a much. Short to medium term trade on any news could be done.
