Sunday, April 5th, 2020

Federal Bank Quarterly Net Profit at Rs. 334 Crores, Grows 28% Y-o-Y

INVC NEWS Chennai,

Federal Bank announced the Unaudited Financial Results for the quarter ended 31st December 2018. The major highlights of the results on a Y-o-Y basis are as follows: Ø  Operating profit up by 26.08% Ø  CASA records a growth of 23.62% Ø  Advances grow by 24.61% Ø  Core retail and corporate advances grow 31% each Ø  Other income grows 51.14% Q3FY18 Vs Q3FY19 ·         Retail Advances including Agri Advances registered a growth of 22.99% to reach Rs. 40343.00 Cr ·         CASA increased to Rs. 41172.41  from Rs. 33304.30 Cr registering a growth of 23.62% ·         Net Advances grew 24.25% to reach Rs. 105550.12 Cr ·         NRE Deposits grew by 21.55% to reach Rs.47930.07 Cr ·         Agri Advances grew by 21.03% to reach Rs.10617.00 Cr ·         The Net worth of the Bank reached Rs.12815.13 Cr ·         Book Value per share increased to Rs. 64.60 from Rs. 60.80. Balance Sheet The Total Business of the Bank grew 23.46% Y-o-Y from Rs.185490.17 Cr as on 31st December 2017 to Rs.229007.49 Cr as on 31st December 2018. While Total Deposits reached Rs.123457.36 Cr from Rs.100537.10 Cr, Net Advances grew 24.25% to reach Rs. 105550.12 Cr. NRE Deposits of the Bank grew by 21.55% to reach Rs. 47930.07 Cr as on 31st Dec 2018. CASA increased to Rs. 41172.41 Cr from Rs. 33304.30 Cr. On the Asset side, Retail Advances including Agri Advances registered a Y-o-Y growth of 22.99% to reach Rs.40343.49 Cr as on 31st Dec 2018. Business Banking advances grew by 19.54% to reach Rs. 8906.38 Cr. Commercial Banking registered a growth of 11.28% to reach Rs. 11253.00 Cr. Corporate and Institutional advances reached Rs. 46562.84 Cr with a growth of 30.95%. Operating Profit & Net Profit The Operating Profit of the Bank increased by 26.08% to reach Rs.707.83 Cr as on 31st Dec 2018. Net Profit increased by 28.31% to reach Rs.333.63 Cr. for the quarter ended 31st Dec 2018. Margins The Bank earned a Net Interest Income of Rs.1077.29 Cr for the quarter. The Net Interest Margin of the Bank as on 31st December 2018 stood at 3.17%. Asset Quality The Gross NPA and Net NPA of the Bank as at the end of the Quarter stood at Rs.3361.23 Cr and Rs. 1817.32 Cr respectively. Gross NPA as a percentage stood at 3.14% and Net NPA as a percentage stood at 1.72%. The Provision Coverage Ratio (including technical write-offs) is 64.20%. NET WORTH & CAPITAL ADEQUACY The Bank has 1251 branches and 1669 ATMs as on 31st December 2018. Awards ·         Skoch Award in Banking and Finance (Gold category) for ‘Federal Bank cross border remittance solution’ 2018 ·         Skoch order – of - merit award for ‘Open Banking API’ for qualifying among top banking and finance projects in India ·         Federal Bank adjudged as the winner of ‘best use of blockchain technology’ at  Drivers of Digital awards 2018



Comments

CAPTCHA code

Users Comment