Private sector lender ING Vysya Bank on Monday reported an impressive year-on-year increase of nearly 35 per cent for the quarter ended June 30, thanks to strong growth in interest as well as non-interest income.

ING Vysya announced that its net profit jumped 34.58 per cent to Rs 1.75 billion during the April to June quarter of this fiscal, from Rs 1.30 billion in the corresponding period of previous fiscal.

Total income jumped 15.70 per cent from Rs 13.42 billion to Rs 15.53 billion. Net interest income (NII) climbed 23.9 per cent to Rs 425 crore, while other income jumped 29 per cent to Rs 221 crore. Increase in other income was mainly due to rise in fee and trading income.

During the quarter under review, the lender made provision of Rs 681.1 million. The figure is 2.55 times higher than where it was in the corresponding quarter of the previous year.

While the lender's gross non-performing assets (NPAs), as a percentage of its total loans, slipped from 1.97 per cent to 1.75 per cent; net NPA jumped 14.26 per cent, from Rs 563.9 million to Rs 644.3 million.

ING Vysya Bank CEO Shailendra Bhandari said, "The environment for asset quality continues to be stressed. However, other than a few medium-sized companies in our wholesale-banking segment, the quality remains stable."

Shares of Bangalore-based ING Vysya Bank shed 0.17 per cent to Rs 575.15 a share on the Bombay Stock Exchange (BSE) on Monday. The quarterly results were released after the end of trading.