Mumbai, April 29, 2017: Federal Bank announced the audited financial results for the quarter and year ended 31st March 2017 today at Kochi. The key highlights of the results are:
· Other income clocks a significant growth of 33.85%
· Operating profit records a staggering growth of 35.20% to reach Rs. 1924.93 Cr
· Retail Advances registered a growth of 25.75% to reach Rs. 21,793.62 Cr
· CASA grew by 23.86% to reach Rs. 31,837.63 Cr
· Corporate Advances registers a growth of 38.20%
WORKING RESULTS AT A GLANCE:
(Rs.in Crore)
|
Particulars |
FY17 |
FY16 |
% y-o-y growth |
|
Net Interest Income |
3052.65 |
2507.71 |
é21.73% |
|
Other Income |
1081.81 |
808.20 |
é33.85% |
|
Total Income |
9759.20 |
8556.35 |
é14.06% |
|
Operating Profit |
1924.93 |
1423.78 |
é35.20% |
|
Net Profit |
830.79 |
475.65 |
é74.66% |
Balance Sheet:
The Total Business of the Bank registered a growth of 24.58% to reach Rs. 171000.84 Cr as on 31st March 2017. While the Deposit portfolio increased by 23.36% from Rs. 79171.71 Cr as on 31st March 2016 to Rs. 97664.56 Cr as on 31st March 2017. Total Advances grew by 26.25% to reach Rs. 73336.28 Cr as on 31st March 2017. The NRE deposits of the Bank posted a growth of 18.46% during the year to reach Rs. 36407.17 Cr. The low-cost CASA segment reached Rs. 31837.63 Cr, up by 23.86%. On the asset side, Retail advances recorded a growth of 25.75% to Rs.21793.62 Cr and corporate advances went up by 38.20% to Rs. 27158.70 Cr.
Operating Profit & Net Profit:
The Bank posted an Operating Profit of Rs. 1924.93 Cr. and a Net Profit of Rs. 830.79 Cr. for the year ended 31st March 2017.
Margins:
Net Interest Income grew by 21.73% from Rs. 2507.71 Cr in FY16 to Rs. 3052.65 Cr in FY17. Net Interest Margin stood at 3.31% for FY17.
Asset Quality:
The Gross NPA of the Bank as on 31st March 2017 stood at Rs. 1727.05 Cr. Gross NPA as a percentage to Gross Advances is 2.33% which is lower than 2.84% as at the end of FY16. The Net NPA stood at Rs. 941.20 Cr and this as a percentage to Net Advances is 1.28%. The Provision Coverage Ratio (including technical write-offs) stood at 71.75%.
Net Worth & Capital Adequacy:
Footprint:
The Bank has 1252 branches and 1667 ATMs as on 31st March 2017. The Bank also has its Representative Office at Abu Dhabi & Dubai and an IFSC Banking Unit (IBU) in Gujarat International Finance Tec-City (GIFT City).
Q4FY16 Vs Q4FY17:
· Total Deposits increased by 23.36% from Rs. 79,171.71 Cr to Rs. 97,664.57 Cr.
· Savings deposits grew by 23.23% to reach Rs. 26397.67 Cr
· CASA grew by 23.86% to reach Rs. 31,837.63 Cr
· CASA ratio improved from 32.47% to 32.60%.
· NRE deposits increased by 18.46% to reach Rs. 36,407.17 Cr
· Net Advances grew by 26.25% from Rs. 58,090.14 Cr to Rs. 73336.28 Cr.
· Retail Advances registered a growth of 25.75% to reach Rs. 21,793.62 Cr.
· Corporate Advances grew by 38.20% from Rs. 19,651.67 Cr to Rs. 27,158.70 Cr.
MAJOR FINANCIAL INDICATORS (Standalone nos.):
(Rs. in Cr)
|
Business Figures |
As on 31.3.2017 |
As on 31.3.2016 |
Growth (%) |
|
Total Deposits |
97664.57 |
79171.71 |
é23.36% |
|
SB & Demand Deposits |
32052.85 |
26052.59 |
é23.03% |
|
Net Advances |
73336.28 |
58090.14 |
é26.25% |
|
Retail Advances |
21793.62 |
17330.70 |
é25.75% |
|
SME Advances |
17641.13 |
15172.07 |
é16.27% |
|
Agri Advances |
7497.28 |
6636.20 |
é12.98% |
|
Gross NPA (%) |
2.33 |
2.84 |
|
|
Net NPA (%) |
1.28 |
1.64 |
|
|
Capital |
|||
|
Equity Capital |
344.81 |
343.79 |
|
|
Net Worth |
8856.47 |
7948.96 |
é11.42% |
|
Capital Adequacy (%) |
12.39 |
13.93 |
|
|
Tier I (%) |
11.81 |
13.36 |
|
|
Tier II (%) |
0.58 |
0.57 |
Corporate Comm India(CCI Newswire)
