ING Vysya posts healthy Q2FY 12 numbers, time to invest?
Srujani Panda / 18 Oct 2011
ING Vysya Bank posted healthy Q2FY12 numbers. Its Net profit increased by 53% to Rs 115.37 crores. This was the eight sequential quarter of PAT growth with the bank crossing the Rs 100 crore mark for the first time. The scrip today closed 3.12% higher at Rs 324.10.
The following are the key parameters of the banks financials:
The following are the key parameters of the banks financials:
| Particulars (Rs / Cr) | Q2FY12 | Q2FY11 |
| Net Profit | 115.4 | 75.3 |
| CASA (%) | 32.6 | 35.9 |
| NIM (%) | 3.35 | 3.34 |
| CAR (%) | 15 | 13.5 |
| Provisions | 17.5 | 69.8 |
| Gross NPA (%) | 2.02 | 2.91 |
| Net NPA (%) | 0.31 | 0.81 |
| Return on Assets (%) | 1.12 | 0.86 |
Segment wise contribution of Revenue and Profit
| Revenue | Profit | |||||
| Segment (Rs / Cr) | Q2FY12 | Q2FY11 | % change | Q2FY12 | Q2FY11 | % change |
| Treasury Operations | 833.04 | 566.26 | 47.11 | 23.51 | 52.31 | -55.06 |
| Retail | 790.13 | 569.26 | 38.8 | 61.18 | 23.46 | 160.78 |
| Corporate / Wholesale Banking | 594.21 | 406.33 | 46.24 | 87.25 | 39.52 | 120.77 |
| Other Banking operations | - | |||||
| Less Inter segment | 1121.85 | 709.79 | 58.05 | |||
| Unallocable | -0.84 | -100 | ||||
| Total | 1095.53 | 832.06 | 31.66 | 171.94 | 114.45 | 50.23 |
Net NPA of the bank decreased by 50 basis points and stood at 0.31%. Better asset quality helped the bank make fewer provisions which as a result were down 75% to Rs 17.5 crore.
Net Interest margin (NIM) of the bank remained stable if compared on YoY basis, but improved by 33 basis points QoQ to 3.35%. Return on Assets of the bank too improved and stood at 1.12%.
Capital Adequacy ratio of the bank increased by 150 basis points to 15%. All the segments of the bank had good revenue growth.
Profit from Retail and Corporate banking segment increased by 160 and 120% respectively. Profit from treasury segment was down 55% to Rs 23.51 crore because of the weak bond market.
On a half yearly basis, the bank's total deposit increased by 17.8% to Rs 30172.3 crore. Term deposits of the bank increased by 24% to Rs 20715.4 crore on the back of attractive yields offered. CASA ratio came down by 330 basis points to 32.6%. The Advances of the bank grew by 22% to Rs 25289 crore on YoY basis.
Overall the Bank posted very good numbers. The scrip is already up 3% and has factored in the Q2FY12 numbers. But with interest rate almost at their peaks, we expect the bank to perform well in the coming quarter and hence one can invest in the scrip in a staggering manner.
Net Interest margin (NIM) of the bank remained stable if compared on YoY basis, but improved by 33 basis points QoQ to 3.35%. Return on Assets of the bank too improved and stood at 1.12%.
Capital Adequacy ratio of the bank increased by 150 basis points to 15%. All the segments of the bank had good revenue growth.
Profit from Retail and Corporate banking segment increased by 160 and 120% respectively. Profit from treasury segment was down 55% to Rs 23.51 crore because of the weak bond market.
On a half yearly basis, the bank's total deposit increased by 17.8% to Rs 30172.3 crore. Term deposits of the bank increased by 24% to Rs 20715.4 crore on the back of attractive yields offered. CASA ratio came down by 330 basis points to 32.6%. The Advances of the bank grew by 22% to Rs 25289 crore on YoY basis.
Overall the Bank posted very good numbers. The scrip is already up 3% and has factored in the Q2FY12 numbers. But with interest rate almost at their peaks, we expect the bank to perform well in the coming quarter and hence one can invest in the scrip in a staggering manner.
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