Federal Bank Delivers Strong Broad-Based Growth, Profits Soar 42% YoY
Federal
Bank announced the Financial Results for the quarter ended 30thJune
2023. The key highlights of the results on a Y-o-Y basis are as follows:
Ø
Total
Business of the Bank reached 405982.91 Cr
Ø
Net Profit
grew by 42.13% Y-o-Y at 853.74 Cr
Ø Operating profit grew by33.80% Y-o-Y at Rs. 1302.35Cr
Ø ROA stood at 1.30 and ROE at 15.73
Ø GNPA and NNPA brought down to 2.38%& 0.69% respectively
Ø Total Deposits increased by 21.35%
Ø Total Advances grew by 20.86%
|
WORKING RESULTS AT A GLANCE
(Rs.in Cr)
|
Particulars |
Q1 |
Q1 |
% y-o-y growth |
|
|
2023-24 |
2022-23 |
|
|
Net
Profit |
853.74 |
600.66 |
é42.13% |
|
Total
Income |
5756.94 |
4081.48 |
é41.05% |
|
Operating
Profit |
1302.35 |
973.37 |
é33.80% |
|
Net Interest Income |
1918.59 |
1604.51 |
é19.57% |
|
Total Business |
405982.91 |
335044.78 |
é21.17% |
Resilient Balance
Sheet Performance
The Total Business of the Bank reached Rs. 405982.91 Cr registering
Y-o-Y growth of 21.17%. Total Deposits reached Rs. 222495.50Cr registering Y-o-Y
growth of 21.35%. Net advances grew by 20.96% Y-o-Y to reach Rs. 183487.41as on
30th June 2023.
On the Assets side, Retail advances grew by 17.04% to reach Rs.58472.85Cr.
Business Banking grew by 18.24% to reach Rs. 15040.27Cr. Commercial banking
advances registered a Y-o-Y growth of 22.11% to reach Rs. 18369.00 Cr. CIB advances
grew by 21.50% to reach Rs.67141.62 Cr.Agri advances grew by 19.69% to reach
Rs.23287.00 Cr.
Strong Operating
Profit & Net Profit Growth
The Operating Profit of the Bank as on 30th June 2023 stood
at Rs. 1302.35 Cr up from Rs. 973.37 Cr. Total Income reached Rs.5756.94Cr. Net
Profit stood at Rs.853.74 Cr.
Remarkable Income
Parameters
Net Interest Income grew 19.57 % on a Y-o-Y basis from Rs.1604.51Cr to Rs.1918.59Cr as on 30th
June 2023. Other income grew by 61.82% to reach Rs.732.41 Cr, compared to Rs.452.62Cr.Total
income of the Bank grew 41.05% to reach Rs.5756.94 Cr.
Key Ratios
·
ROA & ROE of the Bank for the quarter stood at 1.30%
and 15.73% respectively
·
Cost to income ratio of the Bank has been contained at 50.87% clocking
a reduction of 181 bps Y-o-Y
·
EPS of the Bank on an annualized basis stands at Rs 16.22
Asset
Quality in Check
Gross NPA of the Bank as at the end of the quarter stood at Rs. 4434.77Cr,
which as a percentage of Gross Advances comes to 2.38%. Net NPA stood at Rs.1274.59Cr,
and Net NPA as a percentage of Net Advances is at 0.69%. The Provision Coverage
Ratio was strengthened substantially and stood at 70.02%.
Net Worth & Capital Adequacy
The Bank’s Net worth on a
Y-o-Y basis increased from Rs.19266.96 Cr as on 30th June 2022 to
Rs. 22247.75Cr as on 30th June 2023. The Capital Adequacy Ratio
(CRAR) of the Bank, computed as per Basel III guidelines stood at 14.28% as at
the end of the quarter. Book Value per share increased to Rs. 105.04from Rs. 91.59.
Footprint
The Bank had 1366 branches and 1918 ATM/recyclers as on 30th
June 2023. 12 new branches were opened in the quarter.
MAJOR FINANCIAL INDICATORS (Standalone Nos)
(Rs. in Cr)
|
Business
Figures |
As
on 30.06.2023 |
As
on 30.6.2022 |
Growth
(%) |
|
Total Deposits |
222495.50 |
183355.29 |
é21.35% |
|
Gross Advances |
186592.74 |
154391.50 |
é20.86% |
|
CIB Advances |
67141.62 |
55259.27 |
é21.50% |
|
CB Advances |
18369.00 |
15042.64 |
é22.11% |
|
Retail Advances |
58472.85 |
49960.87 |
é17.04% |
|
Business Banking Advances |
15040.27 |
12720.23 |
é18.24% |
|
Agri Advances |
23287.00 |
19455.74 |
é19.69% |
|
Capital |
|
|
|
|
Equity Capital |
423.60 |
420.70 |
|
|
Net Worth |
22247.75 |
19266.96 |
é15.47% |
|
Capital Adequacy (%) |
14.28 |
14.57 |
|
|
Tier I (%) |
12.54 |
13.31 |
|
|
Tier II (%) |
1.74 |
1.26 |
|
No comments:
Post a Comment