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Federal Bank has posted a 26 per cent growth in its net profit at ₹205.65 crore in Q3 of FY17 compared with ₹162.72 crore in the corresponding period of the previous fiscal.
Operating profit increased 45.91 per cent to ₹474.90 crore from ₹325.48 crore in the year-ago period.
As on December 31, total business increased 27 per cent year-on-year (y-o-y) to ₹1,61,864.87 crore. Total deposits registered a yearly growth of 23 per cent to ₹92,235.65 crore, and net advances rose 32 per cent to ₹69,629.22 crore.
The bank’s NRE and low-cost current account and savings account (CASA) deposits continued to witness consistent growth. NRE deposits grew 21.72 per cent to ₹34,546.66 crore and CASA deposits rose 33.19 per cent to ₹31,972.97 crore. CASA, as a percentage of total deposits, increased to 34.66 per cent from 32.10 per cent at the end of the corresponding period last year. The book value per share increased to ₹49.94 from ₹47.86.
The bank earned a net interest income of ₹791.39 crore for the quarter while the net interest margin stood at 3.32 per cent.
The gross and net non-performing assets (NPAs) at the end of the quarter stood at ₹1,951.55 crore and ₹1,102.37 crore, respectively. Gross NPA as a percentage of total advances fell to 2.77 per cent and net NPA as a percentage of net advances stood at 1.58 per cent.
The capital adequacy ratio, computed according to Basel-III guidelines, stood at 12.28 per cent at the end of the quarter.
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