ING Vysya Bank rose 1.03% to Rs 648 at 11:18 IST on BSE after net profit rose 2.2% to Rs 180.13 crore on 10.8% growth in total income to Rs 1664.03 crore in Q2 September 2014 over Q2 September 2013.
The Q2 result was announced after market hours yesterday, 28 October 2014.
Meanwhile, the S&P BSE Sensex was up 128.80 points or 0.48% at 27,009.62
On BSE, so far 18,378 shares were traded in the counter as against average daily volume of 25,655 shares in the past one quarter.
The stock was volatile. The stock hit a high of Rs 669 and a low of Rs 643 so far during the day. The stock had hit a 52-week low of Rs 493 on 4 February 2014. The stock had hit a record high of Rs 723.15 on 7 April 2014.
The stock had outperformed the market over the past one month till 28 October 2014, rising 8.12% compared with 0.96% rise in the Sensex. The scrip also outperformed the market in past one quarter, rising 5.96% as against Sensex's 3.42% rise.
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The mid-cap bank has equity capital of Rs 190.13 crore. Face value per share is Rs 10.
ING Vysya Bank's ratio of gross non-performing assets (NPAs) to gross advances stood at 1.59% as on 30 September 2014 as against 2.39% as on 30 June 2014 and 1.72% as on 30 September 2013. The ratio of net NPAs to net advances stood at 0.42% as on 30 September 2014 as against 0.87% as on 30 June 2014 and 0.19% as on 30 September 2013.
ING Vysya Bank's provisions and contingencies jumped 174.8% to Rs 49.66 crore in Q2 September 2014 over Q2 September 2013.
The bank's Capital Adequacy Ratio (CAR) stood at 14.39% as on 30 September 2014 as against 15.19% as on 30 June 2014 and 16.75% as on 30 September 2013.
Meanwhile, ING Vysya Bank said that Mr. Shailendra Bhandari, MD & CEO has submitted his resignation and the Board of Directors, at its meeting held 28 October 2014 has approved his letter of resignation. Mr. Bhandari will continue to be in the office till 31 January 2015, ING Vysya Bank said.
In pursuance of its succession plan, the Board, at the same meeting, proposed the appointment of Mr. Uday Sareen, currently Deputy CEO and Wholesale Banking Head as MD & CEO, subject to approval of Reserve Bank of India.
ING Vysya Bank is a leading private sector bank with retail, private and wholesale banking platforms.
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