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|Summary||Date||Stock||Broker||Price at Reco.||Target||Price at reco|
Change since reco(%)
|2015-01-22||ING Vysya Bank Limited +||Nirmal Bang Institutional||979.00||979.00 (4.92%)|
Nirmal Bang Institutional
ING Vysya Bank's 3QFY15 results are below our expectations. Gross nonperforming assets (GNPAs) increased 27bps sequentially to 1.9% as slippage increased to 2.7% from 2.0% in the previous quarter. As much as 30% of loan slippage pertains to slippage from restructured assets. Credit off-take continued to grow at a healthy rate of 19% as against a 12% average growth over the past two years. Similarly, deposit growth was also strong at 18%. Net interest margin or NIM compressed 17bps on a sequential basis following reversal of interest charges on NPAs, compression in CASA (current account savings account) deposit ratio and substitution of foreign currency borrowings. Non-interest...
|2013-04-30||ING Vysya Bank Limited +||Ashika Research||740.00||Target met||Buy|