Federal Bank Quarterly Net Profit at Rs. 334 Crores, Grows 28% Y-o-Y
Federal Bank announced the Unaudited Financial Results for the quarter ended 31st December 2018. The major highlights of the results on a Y-o-Y basis are as follows:
Ø Operating profit up by 26.08%
Ø CASA records a growth of 23.62%
Ø Advances grow by 24.61%
Ø Core retail and corporate advances grow 31% each
Ø Other income grows 51.14%
WORKING RESULTS AT A GLANCE
(Rs. in Crore)
Particulars
|
Q3
|
Q3
|
% y-o-y growth
|
2018-19
|
2017-18
| ||
Net Profit
|
333.63
|
260.01
|
é28.31%
|
Operating Profit
|
707.83
|
561.40
|
é26.08%
|
Net Interest Income
|
1077.29
|
950.00
|
é13.40%
|
Net Total Income
|
1422.84
|
1178.63
|
é20.72%
|
Q3FY18 Vs Q3FY19
· Retail Advances including Agri Advances registered a growth of 22.99% to reach Rs. 40343.00 Cr
· CASA increased to Rs. 41172.41 from Rs. 33304.30 Cr registering a growth of 23.62%
· Net Advances grew 24.25% to reach Rs. 105550.12 Cr
· NRE Deposits grew by 21.55% to reach Rs.47930.07 Cr
· Agri Advances grew by 21.03% to reach Rs.10617.00 Cr
· The Net worth of the Bank reached Rs.12815.13 Cr
· Book Value per share increased to Rs. 64.60 from Rs. 60.80.
Balance Sheet
The Total Business of the Bank grew 23.46% Y-o-Y from Rs.185490.17 Cr as on 31st December 2017 to Rs.229007.49 Cr as on 31st December 2018. While Total Deposits reached Rs.123457.36 Cr from Rs.100537.10 Cr, Net Advances grew 24.25% to reach Rs. 105550.12 Cr.
NRE Deposits of the Bank grew by 21.55% to reach Rs. 47930.07 Cr as on 31st Dec 2018. CASA increased to Rs. 41172.41 Cr from Rs. 33304.30 Cr.
On the Asset side, Retail Advances including Agri Advances registered a Y-o-Y growth of 22.99% to reach Rs.40343.49 Cr as on 31st Dec 2018. Business Banking advances grew by 19.54% to reach Rs. 8906.38 Cr. Commercial Banking registered a growth of 11.28% to reach Rs. 11253.00 Cr. Corporate and Institutional advances reached Rs. 46562.84 Cr with a growth of 30.95%.
Operating Profit & Net Profit
The Operating Profit of the Bank increased by 26.08% to reach Rs.707.83 Cr as on 31st Dec 2018. Net Profit increased by 28.31% to reach Rs.333.63 Cr. for the quarter ended 31stDec 2018.
Margins
The Bank earned a Net Interest Income of Rs.1077.29 Cr for the quarter. The Net Interest Margin of the Bank as on 31st December 2018 stood at 3.17%.
Asset Quality
The Gross NPA and Net NPA of the Bank as at the end of the Quarter stood at Rs.3361.23 Cr and Rs. 1817.32 Cr respectively. Gross NPA as a percentage stood at 3.14% and Net NPA as a percentage stood at 1.72%. The Provision Coverage Ratio (including technical write-offs) is 64.20%.
NET WORTH & CAPITAL ADEQUACY
The Net worth of the bank increased from Rs.11955.18 Cr as on 31st December 2017 to Rs.12815.13 Cr as on 31st December 2018. The Capital Adequacy Ratio (CRAR) of the Bank, computed as per Basel III guidelines stood at 12.97% as at the end of the quarter.
Footprint
The Bank has 1251 branches and 1669 ATMs as on 31st December 2018.
Awards
· Skoch Award in Banking and Finance (Gold category) for ‘Federal Bank cross border remittance solution’ 2018
· Skoch order – of - merit award for ‘Open Banking API’ for qualifying among top banking and finance projects in India
· Federal Bank adjudged as the winner of ‘best use of blockchain technology’ at Drivers of Digital awards 2018
MAJOR FINANCIAL INDICATORS (Standalone nos.)
Business Figures
|
As on 31.12.2018
|
As on 31.12.2017
|
Growth (%)
|
Total Deposits
|
123457.36
|
100537.10
|
é22.80%
|
CASA
|
41172.41
|
33304.30
|
é23.62%
|
Net Advances
|
105550.12
|
84953.08
|
é24.25%
|
Retail Advances including Agri
|
40343.49
|
32803.84
|
é22.99 %
|
Business Banking Advances
|
8906.38
|
7449.88
|
é19.55%
|
Commercial Banking Advances
|
11253.00
|
10112.40
|
é11.28%
|
Corporate and Institutional Banking Advances
|
46563.84
|
35556.52
|
é30.95%
|
Capital
| |||
Equity Capital
|
396.78
|
393.27
| |
Net Worth
|
12815.13
|
11955.18
|
é7.19%
|
Capital Adequacy (%)
|
12.97%
|
14.41%
| |
Tier I (%)
|
12.44%
|
13.84%
| |
Tier II (%)
|
0.53%
|
0.57%
|
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