Federal Bank announced the Un-audited Financial Results for the quarter ended 30th September 2019
The key highlights of the results on a Y-o-Y basis are as follows:
Total Business records a growth of 17%
Total Advances increase by 15%
Total Deposits grow by 18%
Net profit at Rs.417 Cr registers a growth of 57%
Retail Advances grow by 25%
Balance Sheet - Total Business of the Bank crosses Rs. 250000 Cr to reach Rs.255439.74 Cr registering a growth of 16.57% as on 30th September 2019. Total Advances grow from Rs.100940.88 Cr to Rs. 115893.21 Cr. Total Deposits increase from Rs. 118182.42 Cr to Rs. 139546.52 Cr as on 30th September 2019, registering a growth of 18.08%.
NRE Deposits of the Bank grow from Rs. 46787.05 Cr to Rs. 52690.21 Cr registering a growth of 12.62%. CASA Deposits clock a growth of 11.57 % Y-o-Y to reach Rs. 44023.39 Cr. On the Asset side, Retail Advances clock a growth of 25.41% to reach Rs. 34862.97 Cr. Business Banking advances grow by 15.23% to reach Rs. 9939.31 Cr. Agriculture advances register a growth of 21.36 % to reach Rs. 12355 Cr from Rs. 10180.09 Cr. Housing Loans register an impressive Y-o-Y growth of 23.85% to Rs. 16821.97 Cr
Operating Profit & Net Profit The Bank registers an Operating Profit of Rs. 718.80 Cr and a Net Profit of Rs. 416.70 Cr. for the quarter ended 30th September 2019. The net profit records a staggering growth of 56.63%. The Operating Profit and Net Profit for the half year ended 30th September 2019 stood at Rs. 1501.56 Cr and Rs. 800.91 Cr respectively. Margins The Bank earned a Net Interest Income of Rs. 1123.77 Cr for the quarter ended 30th September 2019. Net Interest Margin stands at 3.01% as on 30th September 2019.
Asset Quality - The Gross NPA of the Bank as at the end of Q2 FY20 stood at Rs. 3612.11 Cr, which as a percentage to Gross Advances stands at 3.07%. The Net NPA and Net NPA as a percentage to Net Advances as on 30th September 2019 stand at Rs. 1843.64 Cr and 1.59% respectively. The Provision Coverage Ratio (including technical write-offs) is 66.16%.
NET WORTH & CAPITAL ADEQUACY - The Net worth of the bank increases from Rs. 12440.11 Cr to Rs. 13754.31 Cr, as on 30 th September 2019. The Capital Adequacy Ratio (CRA)
Q2FY19 Vs Q2FY20
Gross advances increase by 14.98% to reach Rs. 117622.36 Cr
NRE deposits cross Rs. 50000 Cr to reach Rs. 52690.21 Cr registering a growth of 12.62%
Business Banking Advances grow by 15.23% from Rs.8625.49 Cr to Rs. 9939.31 Cr
CASA grows by 11.57% from Rs. 39546.88 Cr to Rs. 44023.39 Cr
Savings deposits grow by 13.27% to reach Rs. 37268.02 Cr
Total Deposits increase by 18.08% from Rs. 118182.41 Cr to Rs. 139546.53 Cr
Retail advances grow by 25.41% to reach Rs. 34862.97 Cr
Investments stand at Rs. 31094.36 Cr
Book Value per share increases from Rs. 62.81 to Rs. 69.18