ING Vysya Bank Limited : News Release on working Results of the Bank for the fiscal year ended 31st, March 2012

ING Vysya Bank

PRESS RELEASE

Mumbai • April 24th, 2012

ING Vysya Bank Q4 Net Profit up 40% FY 12 Net Profit up 43% Recommends increase in dividend from 30% to 40%

ING Vysya Bank announced its audited financial results for the financial year 2011-12 following the approval by its Board of Directors at their meeting held in Mumbai today.
The Board of Directors has proposed dividend of 40% for consideration by the shareholders at the next
Annual General Meeting.

Performance at a Glance

Q4' FY 12 v Q4' FY 11

Net Profit up 40% to Rs. 127.4 crores

Net Interest Income up 19% to Rs. 319.2 crores

Net interest margin was steady at 3.29%

Operating profit up 54% to Rs. 220.3 crores

Cost income ratio lower at 57.3% from 67.4%

Return on Assets improves to 1.15% from 0.99%

Gross Advances up 22% to Rs. 29,247 crores

Deposits up 17% to Rs. 35,195 crores

CASA Ratio at 34.2%. Core CASA ratio stood at 33.4%

Provision cover up to 90.7% from 83.4%

Net NPA improves to 0.18% from 0.39% & Gross NPA improves to 1.92% from 2.30%

YTD Mar 12 v YTD Mar 11

Net Profit up 43% to Rs. 456.3 crores

Net Interest Income up 20% to Rs. 1,208.3 crores

Net interest margin up to 3.30% from 3.25%

Operating Profit up 21% to Rs. 767.9 crores

Return on Assets improves to 1.09% from 0.89%

Financial Highlights

The Net Profit (PAT) of the bank for the quarter ended 31 March 2012 increased by 39.5% to Rs. 127.4 crores compared to Rs. 91.3 crores reported in the corresponding quarter of the previous year. This was the

1

tenth sequential quarter of PAT growth and return on assets improved significantly to 1.15% from 0.99% in the quarter ending March 2011.
Net Interest Income (NII) for the quarter increased by 19.0% to Rs. 319.2 crores from Rs. 268.3 crores. The Net Interest Margins (NIM) remained steady at 3.29% in Q4 FY12 despite the elevated interest rate environment. Other income increased by 15.4% to Rs. 196.8 crores and total income increased by 17.6% to Rs. 516.0 crores. Operating costs for the quarter remained flat at Rs. 295.7 crores (however there was a one time impact on account of charge towards second pension and gratuity in the quarter ending March
2011 ) in the quarter ending March 2012. Operating profit increased by 53.9% to Rs. 220.3 crores and cost income ratio improved to 57.3% from 67.4% . While provisions and contingencies were higher at Rs. 56.6 crores, a large part of this was to further enhance the provision coverage from 83.4% to a "best in class"
90.7%. Gross NPA ratio and Net NPA ratio improved to 1.92% and 0.18% respectively as at 31 March
2012 compared to 2.30% and 0.39% respectively as at 31 March 2011. This is the eighth consecutive quarter of improvement in Gross NPA and provision coverage ratio. The effective rate of tax during the quarter was lower due to the Bank claiming the deduction allowed on lending to infrastructure and other sectors under Section 36(1)(viii) of the Indian Income Tax Act 1961. This deduction has been claimed on a cumulative basis from the financial year ended March 2008.
The Net Profit (PAT) of the Bank for the year ended 31 March 2012 increased by 43.2% to Rs. 456.3 crores from Rs. 318.7 crores reported in the corresponding period of the previous year. Net Interest Income (NII) increased by 20.1% to Rs. 1,208.3 crores from Rs. 1,006.5 crores and total income increased to Rs.
1,878.1 crores from Rs. 1,661.5 crores for the period ended 31 March 2011. Operating costs increased to
Rs. 1,110.2 crores from Rs. 1,026.0 crores for the same period. Operating profit increased by 20.8% to Rs.
767.9 crores from Rs. 635.5 crores. The improvement in asset quality led to sharp reduction in provisions & contingencies at Rs. 113.7 crores from Rs. 151.6 crores in the previous year. There was a sharp improvement in Return on assets to 1.09% from 0.89% for the year ended March 2011.
Commenting on the results, Managing Director, Shailendra Bhandari said :"We had another great year, where we have achieved our targets of growing faster than market with better asset quality. We have grown gross advances at 21.6% and deposits at 16.6%. Our asset quality has continued to improve despite a tough macro economic environment with Gross NPA at 1.92%, Net NPA at 0.18% and provision cover at 90.7%."

Financial Indicators

In Rs. Crores

Q4 2011-12 Q4 2010-11 % growth YTD Mar 2011-12 YTD Mar 2010-11 % growth

Net Interest Income 319.2 268.3 18.9% 1,208.3 1,006.5 20.1% Other Income 196.8 170.5 15.4% 669.8 655.0 2.3% Total Income 516.0 438.9 17.6% 1,878.1 1,661.5 13.0% Operating Costs 295.7 295.7 0.0% 1,110.2 1,026.0 8.2% Operating Profit 220.3 143.2 53.9% 767.9 635.5 20.8% Provision & Contingencies 56.6 4.3 1225.5% 113.7 151.6 -25.0% Profit before Tax 163.7 138.9 17.9% 654.2 483.9 35.2% Provision for Taxes 36.3 47.6 -23.7% 197.9 165.2 19.8%

Profit after Tax 127.4 91.3 39.5% 456.3 318.7 43.2%

2

As at As at

In Rs. Crores 31-Mar-12 31-Mar-11 % growth Deposits 35,195.4 30,194.3 16.6% Savings Bank 5,642.9 5,351.5 5.4%

Current Account 6,404.4 5,107.1 25.4%

Demand Deposits 12,047.3 10,458.6 15.2% CASA % 34.2% 34.6% Term Deposits 23,148.1 19,735.6 17.3% Gross Advances 29,246.9 24,059.8 21.6% Branches and Extension Counters 527 510 ATMs 430 400 Capital Adequacy Ratio 14.00% 12.94%

Business Highlights

Total Deposits were Rs. 35,195 crores at the end of March 2012, up from Rs. 30,194 crores as at the end of March 2011. Current and Savings (CASA) deposits grew by 15% to Rs. 12,047 crores from Rs. 10,459 crores as at end of March 2011. CASA ratio was at 34.2% of total deposits as at the end of March 2012 as against 34.6% at the end of March 2011. However, after adjusting for certain large CASA deposits which flowed in towards the end of the period, core CASA would have stood at 33.4% of total deposits.
Gross Advances grew by 22% to Rs. 29,247 crores at the end of March 2012 from Rs. 24,060 crores as at end of March 2011. The Credit Deposit Ratio stood at 81.7% as at March 2012 as against 78.2% as at March 2011.
The Capital Adequacy Ratio (CAR) of the Bank as at 31 March 2012 improved to 14.00% from 12.94%, as at 31 March 2011 (as per Basel-II).

Other Developments

The Bank continued to expand its national footprint with the number of branches at 527 up from 510 same time last year and ATMs at 430 up from 400 same time last year. As of March 2012, the Bank has a total of
527 branches and extension counters, 28 satellite offices and 430 ATMs.
ING Vysya Bank continues to innovate new products to make banking easier for its customers and several such products were launched during the last quarter.
The Bank launched India's first multi currency pre-paid forex travel card. The card is currently available in five foreign currencies - US Dollar, British Pound, Euro, Australian Dollar and Japanese Yen. The ING Visa Platinum Multi Currency card is a prepaid card designed to offer travellers unmatched convenience and a secure way to carry money when traveling abroad. For the first time, an Indian traveller can load five

3

different foreign currencies on a single Visa Prepaid card and lock in the currency exchange rates. Travellers can benefit against frequent currency fluctuations by locking in currency conversion rates while purchasing the card in India before they travel.
During the quarter the Bank rolled out Easyp@y cards, a current account linked card specially designed for corporate customers, which will enable withdrawal of pre-defined value of cash through the ATM network of banks in India. Corporates can meet petty cash requirements of its offices by issuing Easyp@y cards to each of its offices, thus obviating the need for maintaining cash balances.
The Bank also launched ING Kisan card, India's first ATM card facility meant exclusively for farmers, linked to their Kisan Credit Card accounts. This card will facilitate farmers to avail their sanctioned loan / limit through an electronic card with easy access to withdrawal of cash through the ATM network operated by banks in India. The most striking feature of ING Kisan Card, rolled out initially in the North, would be the interest rate savings since the customer starts paying interest only on the swiped or availed amount.
Continuing its energy conservation agenda, ING Vysya Bank launched a campaign through emails, posters and outdoor advertising campaigns to promote Earth Hour, a global programme organized by World Wide Fund for Nature (WWF) and held on the last Saturday of March annually. Earth Hour urges households and businesses to turn off their non-essential lights for one hour to raise awareness about the need to take action on climate change. The Bank also launched an online game Switch Off and Save (www.ingvysyabank.com/earthhour) for promoting awareness around Earth Hour, which was held on 31
March 2012. Over the last three years the Bank has rolled out several energy saving measures and managed to save up to 670,000 units of energy.

Press enquiries: ING Vysya Bank

Vinu Lal, [phone]

[e-mail]

Adfactors Public Relations: Ruchi Dwivedi/Manoj Kumar K

9742272203/9742272213 [e-mail] [e-mail]

ING Vysya Bank Ltd is a premier private sector bank with retail, private and wholesale banking platforms that serve over 2.0 million customers, with 80 years of history in India and leveraging ING's global financial expertise, a workforce of 10,001 employees staff, 985 outlets comprising of 527 branches and extension counters, 28 satellite offices and 430 ATMs to offer its clients an increasingly broad range of innovative and established products and services.

ING is a global financial institution of Dutch origin offering banking, investments, life insurance and retirement services to over 80 million private, corporate and institutional clients in more than 40 countries.

4