Comments
Private sector Federal Bank recorded its highest ever quarterly net profit of ₹477.81 crore in the quarter ended March 31.
On an annual basis, it was a 58.6 per cent increase compared to a net profit of ₹301.23 crore in the fourth quarter of 2019-20.
For the full fiscal 2020-21, Federal Bank reported a 3.08 per cent increase in its net profit to ₹1,590.30 crore as against ₹1,542.78 crore in 2019-20.
Its net interest income grew 16.8 per cent to ₹1,420.37 crore in the fourth quarter of 2020-21 versus ₹1,216.02 crore in the same period in the previous fiscal.
Net interest margin increased by 19 basis points on a year-on-year basis to 3.23 per cent in the fourth quarter last fiscal.
Other income however fell 34.5 per cent to ₹465.37 crore in the January to March 2021 quarter, as against ₹711.11 crore in the previous fiscal.
Provisions fell 57.3 per cent to ₹242.33 crore in Q4 as against ₹567.5 crore a year ago.
Gross non performing assets rose to ₹4,602.39 crore or 3.41 per cent of gross advances as on March 31, 2021 as compared to 2.84 per cent a year ago.
Net NPAs eased to 1.19 per cent of net advances as on March 31, from 1.31 per cent last year.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.