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Federal Bank beats estimate with a 25.2% increase in Q3 profits.

In the third quarter, Federal Bank Ltd.’s net profit increased by 25%, above experts’ projections. In the quarter that ended in December, the private sector bank’s standalone profit climbed to Rs 1,006.7 crore year over year, as per an exchange filing on Tuesday. A profit of Rs 934.8 crore was predicted by analysts surveyed by Bloomberg for the three-month period. Comparatively, the net profit increased by 6%. Net interest

The gross non-performing-asset ratio did not change from the previous quarter’s 2.26% to 2.29%. The net NPA ratio also held steady at 0.64% sequentially. At Rs 479 crore, fresh slippages rose 31% from the previous quarter. Quarterly provisions were Rs 91 crore, a 54% year-over-year decline. For the quarter, the provision-coverage ratio was 71.08%, excluding technical write-off.

The current account-savings account ratio declined 361 bps YoY to 30.63%. QoQ, the net interest margin decreased by 3 basis points to 3.19%. Deposits increased 3% consecutively and by 19% annually to Rs 2.3 lakh crore. The net advances of the private lender increased by 18% on an annual basis to Rs 1.9 lakh crore. The retail book increased by 24% and the business banking book by 18% annually.

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