Kochi: Federal Bank has announced the Unaudited Financial Results for the quarter that ended on June 30, 2018. The key highlights of the results on a year-over-year (Y-o-Y) basis are: Net Profit recorded a growth of 25.01 per cent to reach Rs. 262.71 Crore; Net Interest income grew by 22.40 per cent; Total Business increased by 19.40 per cent; Total Deposits increased by 16.07 per cent; NRE Deposits increased by 19.90 per cent and advances increased by 23.58 per cent.
The Total Business of the Bank registered a Y-o-Y growth of 19.40 per cent to reach Rs. 2,05,538.63 Crore. While Total Deposits increased by 16.07 per cent to reach Rs. 1,11,241.85 Crore, Advances grew by 23.58 per cent to Rs. 94,296.78 Crore.
CASA Deposits of the Bank grew 16.18 per cent Y-o-Y to reach Rs. 37,233.83 Crore. CASA as a percentage to Total Deposits stands at 33.47 as on June 30, 2018. NRE Deposits grew by 19.90 per cent from Rs. 37,370.46 Crore to Rs. 44,805.64 Crore.
On the Asset side, the retail advances grew by 18.97 per cent to reach Rs. 26,133.00 Crore while SME Advances registered a growth of 16.74 per cent to touch Rs. 18,681.34 Crore. The Large Corporate Advances of the Bank recorded a growth of 31.53 per cent to reach Rs. 41,001.79 Crore. Agri advances registered a growth of 22.05 per cent to reach Rs. 9,699.00 Crore.
The Operating Profit of the Bank stood at Rs. 602.92 Crore, up from Rs. 557.86 Crore as at the end of Q1FY18. The Total Income grew 10.74 per cent Y-o-Y to reach Rs. 2938.24 Crore. The Net Profit of the Bank as at the end of the current quarter stood at Rs. 262.71 Crore, registering a Y-o-Y growth of 25.01 per cent.
Net Interest Income grew 22.40 per cent on a Y-o-Y basis from Rs. 800.68 Crore during the corresponding quarter last year to Rs. 980.06 Crore this quarter. Net Interest Margin stood at 3.12 per cent.
The Gross NPA of the Bank as at the end of the quarter stood at Rs. 2868.82 Crore, which as a percentage to Gross Advances comes to 3.00 per cent. The Net NPA stood at Rs.1620.22 Crore, and the Net NPA as a percentage to Net Advances is at 1.72 per cent. The Provision Coverage Ratio is 64.71 per cent.
Federal Bank’s Net worth on a Y-o-Y basis increased from Rs. 11541.90 Crore to Rs. 12382.79 Crore. The Capital Adequacy Ratio (CRAR) of the Bank, computed as per Basel III guidelines, stood at 14.50 per cent as at the end of the quarter.