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Federal Bank Operating Profit grows 20% to reach Rs.698 crore

Published in Banking & Finance Tuesday, 16 October 2018 14:34

 

Federal Bank announced the Unaudited Financial Results for the quarter ended 30th September 2018. The key highlights of the results on a Y-o-Y basis are as follows:

 

Total Business records a growth of 23.20%

Total Advances increase by 25.53%

Total Deposits grow by 21.57%

Net profit at Rs.266.04Cr

Housing loans record a magnificent growth of 34.74% 

NRE Deposits increase by 22.30%

Retail Advances grow by 20.96%

Wholesale Advances grow 29.47%

 

WORKING RESULTS AT A GLANCE

                    (Rs.in Crore)

ParticularsQ2Q2% y-o-y growth

2018-192017-18

Operating Profit697.60583.2019.62%

Total Income3087.812666.8215.79%

Net Interest Income1022.47898.9113.75%

Net Total Income1345.361186.1313.42%

 

Balance Sheet

The Total Business of the Bank registered a Y-o-Y growth of 23.38% to reach Rs.220482.68 Cr as on 30thSeptember 2018, backed by a strong growth of 25.53% in gross advances. Total Advances grew from Rs.81496.54 Cr to Rs.102300.37 Cr. The Total Deposits increased from Rs. 97210.75 Crto Rs. 118182.41 Cr as on 30th September 2018, registering a growth of 21.57%. 

 

NRE Deposits of the Bank grew from Rs. 38255.82 Cr to Rs. 46787.05 Cr registering a growth of 22.30%. CASA Deposits clocked a growth of22.54% Y-o-Y to reach Rs.39456.88 Cr. 

 

On the Asset side, wholesale advances grewby 29.47% from Rs.43016.00 Cr to Rs.55697.00 Cr. Retail Advances clocked a growth of 20.96% to reach Rs.27813.00 Cr.Business Banking Advances grew by 21.80% from Rs.7072.00 Cr to Rs.8614.00Cr as on 30th September 2018. Housing Loan registered an impressive Y-o-Y growth of 34.74% from Rs.10080.22 Cr to Rs.13582.20 Cr.

Operating Profit & Net Profit 

The Bank registered an Operating Profit of Rs.697.60 Crand a Net Profit of Rs. 266.04Cr. for the quarter ended 30thSeptember 2018.The Operating profit grows by 19.62% as compared to the corresponding quarter last year. The Operating Profit and Net Profit for the half year ended 30th September 2018 stood at Rs. 1300.52 Cr and Rs.528.75 Cr respectively.

 

Margins

The Bank earned a Net Interest Income of Rs.1022.47 Cr for the quarter ended 30th September 2018. Net Interest Margin stood at 3.15% as on 30th September 2018.

 

Asset Quality

The Gross NPA of the Bank as at the end of Q2FY19 stood at Rs.3184.53Cr, which as a percentage to Gross Advances stood at 3.11%. The Net NPA and the Net NPA as a percentage to Net Advances as on 30th September 2018 stood at Rs.1796.29Cr and 1.78% respectively. The Provision Coverage Ratio (including technical write-offs) is 63.37%.

 

NET WORTH & CAPITAL ADEQUACY

The Net worthof the bank increased from Rs.11647.32Cr to Rs.12440.11Cr, as on 30th September2018. The Capital Adequacy Ratio (CRAR) of the Bank, computed as per Basel III guidelinesstood at 13.29% as at the end of the quarter.

 

Footprint

The Bank has 1252 branches and 1683 ATMs as on 30th September 2018.

 

Q2FY18 Vs Q2FY19

•Gross advances increases by 25.53% to reach Rs.102300.37 Cr

•NRE deposits grew by 22.30% from Rs.38255.82 Cr to Rs.46787.05 Cr

•Wholesale Advances increased by 29.47% from Rs.43016.00 Cr to Rs.55697.00 Cr

•CASA grew by 22.54% from Rs.32199.18 Cr to Rs.39456.88 Cr

•Savings deposits grew by 21.16% to reach Rs.32900.58Cr

•Total Deposits increased by 21.57% from Rs.97210.75Cr to Rs.118182.41 Cr

•Retail advances grows by 20.96% to reach Rs.27813.00 Cr

•Investments stood at Rs.28213.85 Cr

•Book Value per share increased from Rs.59.59to Rs.62.81

 

MAJOR FINANCIAL INDICATORS (Standalone nos.)

(Rs. in Crore)

Business FiguresAs on 30.9.2018As on 30.9.2017Growth (%)

Total Deposits118182.4197210.7521.57%

SB & Demand Deposits39899.6032625.2322.29%

Gross Advances102300.3781496.5425.53%

Retail Advances27813.0022994.0020.96%

Business Banking Advances8614.007072.0021.80%

Agri Advances10176.008414.7320.93%

Capital

Equity Capital396.12390.91

Net Worth12440.1111647.326.81%

Capital Adequacy (%)13.29%

Tier I (%)12.79%

Tier II (%)0.50%

 

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