ING Vysya Bank slips 7% as Q1 net profit slumps to Rs 143.4 crore on higher provisions
ING Vysya plunged as much as 7%, after it reported 18% drops in its results for the quarter ended June 30 to Rs 143.4 cr on higher provisions from Rs 175.1 cr a year ago.
By ET Online | Updated:
NEW DELHI: ING Vysya Bank plunged as much as 7 per cent in trade on Wednesday, after the private sector bank reported 18 per cent drops in its results for the quarter ended June 30 to Rs 143.4 crore on higher provisions from Rs 175.1 crore a year ago.
Net interest income ( NII), the difference between interest earned and expended, grew 8.8% to Rs 463.1 crore from Rs 425.4 crore.
This was after interest reversal of Rs 20.5 crore in a few large stressed accounts.
Net interest income ( NII), the difference between interest earned and expended, grew 8.8% to Rs 463.1 crore from Rs 425.4 crore.
This was after interest reversal of Rs 20.5 crore in a few large stressed accounts.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
