The 11AM Update – Results return ING to 3.3% NIM grade

 

ING Vysya remained the only bank to enjoy the margin upgrade from the sloth in the Fixed income markets even though its Amsterdam nerve centre remains otherwise occupied and hardly interested in the Sub continent retail banking pump up.

Net profits are up 38% Deposit growth slower as usual at 15% keeping CASA at 33% Th ebank seems to have eked out a large improvement in expenses , maybe not branch set up but other not sustainable savings and the bank was still able to bump up the provision cover to 90% Net NPAs have halved as it remains interested in select c orporates only Total income is still auniquely tiny INR 514 Crores (527 branches and 446 ATMs )

CDR has grown but gross advances are a total INR240 B, like indusind of the past failing to give confidence on scale or participation

YES is expected to grow NII to around a 28% annual rate Banknifty no available at 10250

 

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