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Bangalore May 2 The private sector ING Vysya Bank has proposed a dividend of 6.5 per cent for the financial year 2006-07 after a gap of two years.

An ING Vysya Bank release said here the bank's net profit rose to Rs 89 crore, an increase of 882 per cent over the last financial year's figure of Rs 9 crore. Its profit before tax increased by 493 per cent from Rs 22 crore in financial year 2005-06 to Rs 128 crore in 2006-07.

The increased profits were driven by improved operational income. Total income during the year rose to Rs 1,596 crore, up from Rs 1,362 crore during the period, the release said.

As on March 31, 2006, total assets had increased by 15 per cent to Rs 19,286 crore. The net worth stood at Rs 943 crore. The net non-performing advances improved from 1.77 per cent to 0.95 per cent during the period.

The capital adequacy ratio stood at 10.56 per cent compared to 10.67 per cent as at the end of March 2006, the release added.

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