Free press releases distribution network?

Agency / Source: Hanmer MS&L Communication (P) Ltd

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!



ING Vysya Bank’s Net Profit Up 71.20% to 25.32 Crores in Q1 2007-08 - The Board of Directors of ING Vysya Bank Ltd, at its meeting held at Bangalore today, approved the unaudited financial results of the Bank for the first quarter ended 30th June 2007
ING Vysya Bank’s Net Profit Up 71.20% to 25.32 Crores in Q1 2007-08

 

PRZOOM - /newswire/ - Bangalore, Karnataka, India, 2007/07/26 - The Board of Directors of ING Vysya Bank Ltd, at its meeting held at Bangalore today, approved the unaudited financial results of the Bank for the first quarter ended 30th June 2007.

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Financial/Legal/Venture Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Financial Highlights: The Net Profit after Tax increased by 71.20% from Rs.14.79 crores to Rs. 25.32 crores during the quarter under review. The Profit before Tax for the quarter increased by 78.89% from Rs.23.12 crores to Rs. 41.36 crores. Net Interest Income (NII) increased by 11.07% from Rs.123 crores to Rs. 136.61 crores and other income increased by 92.78% from Rs. 30.04 crores to Rs. 57.91 crores. Total Income rose by 38.48% from Rs. 351.23 to Rs.486.38 crores.

As at 30th June 2007, the net worth of the Bank stood at Rs. 1,017.89 crores and Capital Adequacy Ratio stood at 10.78 %.

Announcing the results, Managing Director, Mr. Vaughn Richtor said: “I am happy to announce a significant improvement in the Bank’s performance. Our focus on fee income, improving productivity and profitable growth is reflected in the earnings for the quarter.”

Business Highlights

Deposits grew by 25.80% from Rs. 13,106 crores as at 30th June 2006 to Rs.16, 487 crores as at 30th June 2007. Low cost deposits increased by 19.72% from Rs. 3,763 crores to Rs.4, 505 crores. Advances increased by 23.30% from Rs. 9,578 crores as at 30th June 2006 to Rs.11, 810 crores as at 30th June 2007. Total assets of the Bank registered a growth of 21.77% from Rs.16,395 crores to Rs. 19,964 crores. The credit deposit ratio stood at 71.63%.

The Gross NPA ratio improved from 4.09% as at 30 June 2006 to 2.52% as at 30th June 2007. The Net NPA ratio improved from 1.78% to 0.84%, for the same period.

Significant developments

The Bank opened 4 new branches and 13 new ATMs during the quarter. As of 30th June 2007 the Bank had 404 branches, 40 Extension Counters, 28 Satellite Offices & 170 ATMs.

The product range was strengthened to meet the requirements of different market segments. The Bank introduced new variants of Savings Account “Orange Salary Account” for corporate employees and “Freedom Savings Account” with no minimum balance requirements.

ING Vysya Bank (ingvysyabank.com) along with Ricky Ponting launched the ‘Run Ricky Run’ initiative for under privileged children supported by ING Vysya Foundation. For the next one year starting September 2007, the Bank would send an under privileged child to school for every run Ricky Pointing would score in any “One Day International” any where in the globe. ING Vysya Bank is working closely with the Foundation to strengthen the cause of primary education as its humble contribution to the society.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Financial/Legal/Venture Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Agency / Source: Hanmer MS&L Communication (P) Ltd

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick PRZOOM - Press & Newswire Visibility Checker

 

Distribution / Indexing: [+]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Financial/Legal/Venture articles,
CATCH Visitors via Your Competitors Announcements!


ING Vysya Bank’s Net Profit Up 71.20% to 25.32 Crores in Q1 2007-08

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name PRZOOM - Press & Newswire and LINK as the source.
 
  For more information, please visit:
Is this your article? Activate ALL web links by Upgrading to Press Release PREMIUM Plan Now!
|
Contact: Ashok N - HanmerMSL.com 
+91 80 25252234 ashok.hanmerpr[.]gmail.com
 
PRZOOM / PRTODAY - Newswire Today disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Hanmer MS&L Communication (P) Ltd securities in any jurisdiction including any other companies listed or named in this release.

Financial/Legal/Venture via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!




Read Latest Press Releases From Hanmer MS&L Communication (P) Ltd / Company Profile


Read Financial/Legal/Venture Most Recent Related Press Releases:

Infinera to Participate in Upcoming Investor Conference
Propel Financial Services Partners with Clear Payment Solutions
Digital Payments Power Growth in Booming Asia-Pacific Financial Technology Landscape Notes Frost & Sullivan
Digital Readiness Key to Growth Opportunities in the Financial Services Market
Prairie Capital Advisors Announces The Sale of Cornerstone Treatment Facilities Network to An ESOP
Koch Agrees to Invest Over $2 Billion in Infor
FTI Consulting Recognized as a Top Service Provider in the Legal Industry
GE Completes Spin Off and Demerger of Bank BPH Core Bank to Alior Bank
ALM Expands Senior Leadership Team, Organization Focused on Customers and Transformation
Lazard Acquires Remaining 50% Stake in MBA Lazard - Fully Integrating its Latin American Operations

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
 
NewswireToday Celebrates 10 Years in Business
Find business coaching, life coaching, executive coaching and corporate coaching, best selling coaching books, ...



PREMIUM Members


Visit  JobsWare.com

Visit  NAKIVO, Inc.

Visit  La Bella Bakery Artisan Bakery Arizona







 
  ©2016 PRZOOM — Limelon Advertising, Co.
Home | About PRZOOM | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR free press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneur newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today