ING Vysya Bank Q4 net profit at Rs.18.39 crores, recommends 6.5% dividend

ING Vysya Bank Ltd has announced the Audited results for the quarter & year ended March 31, 2007. The results for the Quarter ended March 31, 2007: The Bank has posted a net profit of Rs 183.90 million for the quarter ended March 31, 2007 as compared to net loss of Rs 246.50 million for the quarter ended March 31, 2006. Total Income has increased from Rs 3451.70 million for the quarter ended March 31, 2006 to Rs 4630.00 million for the quarter ended March 31, 2007.

The results for the Year ended March 31, 2007: The Bank has posted a net profit of Rs 889.00 million for the year ended March 31, 2007 as compared to Rs 90.60 million for the year ended March 31, 2006. Total Income has increased from Rs 13616.10 million for the year ended March 31, 2006 to Rs 15957.00 million for the year ended March 31, 2007.

The Board of Directors of the Bank at its meeting held on May 02, 2007, inter alia, has recommended the dividend @ 6.5% for the year ended March 31, 2007, subject to the approval of Reserve Bank of India.

Source : Equity Bulls

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