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ING Vysya Bank recorded lower net profits for the fourth quarter of 2013-14. The bank’s profits fell 18.31 per cent to ₹139.11 crore from Rs ₹170.30 crore in the corresponding period last year.
Total income increased 5.17 per cent to ₹1,529.45 crore from ₹1,454.15 crore. Commenting on the bank’s performance, Shailendra Bhandari, Managing Director, “The macroeconomic environment continues to remain challenging, though we are now witnessing some very early signs of turnaround. We continued to grow our business whilst maintaining asset quality and improving our core operating leverage.”
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