Federal Bank's Q4 net profit up 58.6%

Federal Bank's Q4 net profit up 58.6%
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Growth chart. (File Photo: IANS). Image Source: IANS News
Mumbai, May 17 : Federal Bank on Monday reported 58.6 per cent growth in its net profit for the January-March quarter at Rs 477.81 crore.
Its Net Interest Income grew by 17 per cent (YoY) to reach Rs 1,420 crore, the bank said in a statement.
Gross advances reached Rs 1,34,876.71 crore as on March 31, 2021 from Rs 1,24,153.18 crore as on March 31, 2020 registering a growth of 8.64 per cent.
Shyam Srinivasan, Managing Director & CEO, Federal Bank said: "We delivered our highest every quarterly profit despite an extremely challenging environment.
Some of the segments such as gold loans and CASA continue to shine for us with gold loans registering a staggering growth of 70.05 per cent. The asset quality held up well and Net NPA of 1.19 per cent placed the bank amongst the best in the industry."

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