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Federal Bank’s net profit rose 15 per cent to ₹264.69 crore in third quarter of 2014-15 from ₹230.13 crore in the corresponding year-ago quarter.
The bank’s performance improved in other key areas too. Total income rose 10.24 per cent to ₹2,090 crore ( ₹1,895.92 crore in the year-ago period).
Gross NPA (non-performing assets) came down to 2.19 per cent from 2.83 per cent, while net NPA fell to 0.69 per cent from 0.86 per cent. NRE deposits rose by an impressive 27.84 per cent to ₹22,344 crore, while total deposits stood at ₹65,550 crore, an increase of 13.53 per cent over the previous year.
The bank’s advances also improved 15.34 per cent, taking the total advances to ₹48,025 crore. Advances to small and medium enterprises grew 17.65 per cent.
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