Shyan Srinivasan says: "We bring in about 20 odd percent of the India remittances that come into India. Initially, it was just the Middle East and Kerala. Now it is non-Middle East non-Kerala, Middle East non-Kerala all quadrants working in favour and we think we are getting a good traction on that. So, on balance, the bank is now as widespread, as prominent as we would like it to be across many geographies."
Federal Bank on Tuesday reported a net profit of Rs 1,007 crore for the December quarter of the financial year 2023-24, a 25 per cent jump on a year-on-year basis.
Federal Bank Q3 earnings: Net interest income (NII) for the quarter came in at Rs 2,123 crore, up 8.48 per cent YoY over Rs 1,957 crore in the corresponding quarter last year.
Q3 Results Today: HDFC Bank and 29 other companies listed on BSE will announce their December quarter earnings. Notable results to watch include Federal Bank, ICICI Lombard General Insurance Company, ICICI Securities, Bank of Maharashtra, CE Infosystems, Network18 Media & Investments, Newgen Software Technologies, and TV18 Broadcast.