New Delhi. Federal Bank announced the Financial Results for the quarter ended 31st December 2023. The key highlights of the results on a Y-o-Y basis are as follows:
Ø
Total Business of
the Bank reached Rs438776.39Cr
Ø
Net Profit highest ever @ Rs 1006.74
Cr, grew 25.28%
Ø
Operating Profit @Rs1437.33 Cr
Ø ROA for Q3stood at
1.39% and ROE stood at 14.80 %
Ø GNPA and NNPA at 2.29%
and 0.64% respectively.
Ø Total Deposits increased by 18.96 %
Ø Total Net Advances increased by 18.44 %
Ø Highest ever Net Interest Income at ₹2123.36 Cr, grew by 8.53 %
|
Mr. Shyam Srinivasan, Managing Director
& CEO of Federal Bank, expressed his
views on this remarkable achievement, “I am pleased that our team's dedicated effort
has helped us register an all-time high net profit of 1007 Crores, a
significant milestone in the journey of any organization which is dedicated
to both growth and excellence. With an increase of over 100 branches in
the past calendar year and a similar number planned for this year, our
growth trajectory is well poised to sustain this positive momentum. As we grow and diversify across products,
segments, and geography, we are further inspired to deliveron our purpose
for existence, which is to be the Most Admired Bank in India.” puspanjali@conceptpr.comWORKING RESULTS AT A GLANCE (Rs.in Cr) |
|
Particulars |
Q3 |
Q3 |
% y-o-y growth |
|
|
2023-24 |
2022-23 |
|
|
Net Profit |
1006.74
|
803.61 |
é25.28% |
|
Total Income |
6592.66 |
4967.25 |
é32.72% |
|
Operating Profit |
1437.33 |
1274.21 |
é12.80% |
|
Net Interest Income |
2123.36 |
1956.53 |
é8.53% |
|
Total Business |
438776.39 |
369581.25 |
é18.72% |
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