ING Vysya Bank expects 35 percent growth in deposits

Kolkata, Sep 5 : ING Vysya Bank Ltd expects a growth rate of 25 percent in advances and 35 percent in deposits in the current fiscal, a top company official said here Friday.

"We expect to grow at the rate at which the banking industry is growing currently," said Vaughan Richtor, managing director and CEO of the bank, at a press meet here.

The growth is expected to come from segments like home loans, personal loans and also from lending to the small and medium enterprises (SME) sector, he said.

"This year (2008-09), our focus areas of activity would be retail banking, expansion of our reach through a bigger branch network, increasing our exposure to the SME sector and also strengthening our presence in the private banking space where we entered two years back," Richtor added.

The bank expects to maintain its net interest margin at 3.08 percent this fiscal, he said.

--IANS