Congratulations for a resilient quarter. There was good NII growth and controlled provisions which further supported profits and stable GNPAs versus the proforma GNPA. What led to such a resilient quarter?
This year, right at the beginning, our objective was to make sure that we preserve and do not do anything silly because the odds were stacked against banks. So all through this year, we focussed on three things. a), capital conservation; b)ensuring that we are able to do businesses that are more granular in nature and lower on capital demand and hopefully with a little better margin. We saw that happened in case of gold loans. c) we made our strong points stronger, in this case, the deposit portfolio.
Read more about Federal Bank Q4 PAT rises 59% YoY to Rs 478 cr on Business Standard. The private sector bank s net profit increased 59% to Rs 478 crore on 7% fall in total income to Rs 3832 crore in Q4 FY21 over Q4 FY20.
MUMBAI: Kochi-headquartered Federal Bank has reported a net profit of Rs 478 crore for the quarter ended March 2021, an increase of 58% over Rs 301 crore in the corresponding quarter last year. The bank reported a net profit of Rs 1,590 crore for the full year – an increase of 3% from Rs 1,542 crore in the corresponding period in the previous year.
The bank’s gross advances reached Rs 1,34,876 crore as of 31st March 2021 from Rs 1,24,153 crore as of March 2020 registering a growth of 8.6%. Retail advances grew by 18.6% to reach Rs 44,910 crore as of 31st March 2021 from Rs 37,877 crore as of March 2020. Growth in retail was driven by gold loans which registered a growth of 70% growth to reach Rs 15,816 crore as of 31st March 2021.
Federal Bank FY21 net profit rises 3% to Rs 1,590 crore
For January-March quarter, the bank reported its highest ever quarterly net profit of Rs 448 crore, 58.60 per cent higher than that in the corresponding period of previous year.
BusinessToday.In | May 17, 2021 | Updated 22:23 IST
Federal Bank s gross non-performing assets (NPA) stood at Rs 4,602 crore as of March 31, while net NPA stood at Rs 1,569 crore.
Federal Bank on Monday reported a 3.08 per cent year-on-year increase in net profit at Rs 1,590 crore for fiscal year ended March 2021.
The bank s net interest income (NII) grew 19.03 per cent to Rs 5,534 crore, while net interest margin (NIM) stood at 3.16 per cent.
Federal Bank s Q4 net profit up 58.6%
By IANS |
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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.