Federal Bank delivers highest ever quarterly net profit at ₹601 Cr with a YOY growth of 64%

Federal Bank announced its unaudited financial results for the quarter ended 30th June 2022.

  • Net Profit of 601 Cr, grew by 64% YoY
  • ROA at 1.10% and ROE at 12.70%
  • CASA grew by 15% YoY and CASA Ratio at 36.84%
  • Core Fee Income of ₹441 Cr, increase of 73% YoY
  • GNPA and NNPA brought down to 2.69% and 0.94% respectively
  • Agri Business grew by 19% YoY
  • Business Banking grew by 18% & Commercial Banking grew by 20% YoY
  • Market Share in Personal Inward remittance business at 21.06% (FY22)

The total business of the Bank reached ₹ 3,35,045 Cr as on 30th June 2022 from ₹ 2,99,158 Cr as on 30th June 2021, registering a growth of 12%.

Gross Advances reached ₹ 1,54,392 Cr as on 30th June 2022 from ₹ 1,32,787 Cr as on 30th June 2021 registering a growth of 16%. Agri Advances registered a growth of 19% to reach ₹19,988 Cr from ₹16,827 Cr. Business Banking Advances registered a growth of 18% to reach ₹ 12,799 Cr. Commercial Banking Advances registered a growth of 20% to reach ₹ 15,349 Cr.

Deposits recorded a growth of 8% to reach ₹ 1,83,355 Cr as on 30th June 2022 from ₹ 1,69,393 Cr as on 30th June 2021. The CASA deposits reached ₹ 67,540 Cr. CASA Ratio stands at 36.84%. Resident Savings Bank deposit registered a growth of 19% to reach ₹ 31,102 Cr as on 30th June 2022.

The Bank delivered an operating profit of ₹ 973 Cr as on 30th June 2022. The net profit is at ₹601 Cr as on 30th June 2022 up from ₹ 367 Cr as on 30th June 2021.

The Gross NPA of the Bank as on 30th June 2022 stood at ₹ 4,155 Cr. Gross NPA as a percentage to Gross Advances is 2.69%. The Net NPA stood at ₹ 1,420 Cr and Net NPA percentage is at 0.94% as on 30th June 2022. The Provision Coverage Ratio stood at 65.03% and after including technical write off at 80.66%.

The Capital Adequacy Ratio (CRAR) of the Bank, computed as per Basel III guidelines, stood at 14.57% as on 30th June 2022. The Net Worth of the Bank was at ₹ 19,267 Cr.