Money & Banking

Federal Bank net jumps to ₹257 cr

Our Bureau Kochi | Updated on January 15, 2018

Kerala-based Federal Bank reported a big jump in net profit to ₹257 crore in the fourth quarter of FY17 from ₹10.26 crore in the corresponding quarter of FY16.

The bank posted a 16 per cent growth in operating profit to ₹549 crore (₹475 crore in Q4 FY16).

The total deposits in the quarter rose 23.36 per cent to ₹97,664.57 crore. CASA (current account, savings account) deposits grew 24 per cent to ₹31,837.63 crore.

NRE deposits increased 18.46 per cent to ₹36,407.17 crore, and net advances 26.25 per cent to ₹73,336.28 crore.

Retail advances rose 26 per cent to ₹21,793.62 crore, while corporate advances grew 38.20 per cent to ₹27,158.70 crore.

Full-year results

For the full fiscal 2016-17, the bank’s total business rose 25 per cent growth at ₹1,71,000 crore as on March 31.

The bank posted an operating profit of ₹1,924.93 crore and net profit of ₹830.79 crore in FY17.

Gross non-performing assets (NPA) stood at 2.33 per cent of total advances, lower than the 2.84 per cent recorded in end-FY16. The net NPA ratio stood at 1.28 per cent, and the provision-coverage ratio (including technical write-offs) at 71.75 per cent.

The capital adequacy ratio, computed as per Basel III guidelines, stood at 12.39 per cent as on March 31.

Published on April 28, 2017

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