Financial Daily from THE HINDU group of publications
Saturday, Jul 30, 2005
Financial Daily from THE HINDU group of publications Saturday, Jul 30, 2005 |
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Money & Banking
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Financial Performance Corporate Results - Private Banks Federal Bank net rises to Rs 49 cr Our Bureau
Kochi , July 29 THE net profit of Federal Bank has grown eight per cent to touch Rs 48.68 crore (Rs 45.03 crore) during the first quarter ended June 2005. Total income grew 4.5 per cent to Rs 389.50 crore (Rs 372.46 crore), while the total expenditure grew 15.84 per cent to Rs 294.38 crore (Rs 254.14 crore). The operating profits were down to Rs 95.12 crore on account of a fall in treasury income. Interest income grew 13.52 per cent to touch Rs 347.29 crore even as interest expenses could be contained at Rs 203 crore. The net interest income moved up to Rs 144 crore. The total non-interest income fell to Rs 42.21 crore (Rs 66.53 crore). Total deposit increased 11.23 per cent to Rs 14,365 crore (Rs 12,915 crore). Advances, meanwhile, grew 9.21 per cent to Rs 8,723 crore (Rs 7,987 crore). Net-NPA stood at 1.96 per cent, down from 2.32 per cent of last year. The bank's capital adequacy level also improved to 11.98 per cent from 11.39 per cent. Business per employee also moved up to Rs 3.54 crore (Rs 3.26 crore), while the net profit per employee grew to Rs 3.02 lakh (Rs 2.83 lakh).
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