Federal Bank clocks highest ever quarterly operating profit at Rs. 549 Cr

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)

Balance Sheet:

The Total Business of the Bank registered a growth of 24.58% to reach Rs. 171000.84 Cr as on 31^st March 2017. While the Deposit portfolio increased by 23.36% from Rs. 79171.71 Cr as on 31^st March 2016 to Rs. 97664.56 Cr as on 31^st March 2017. Total Advances grew by 26.25% to reach Rs. 73336.28 Cr as on 31^st 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 31^st 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 31^st 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 31^st 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)

Corporate Comm India(CCI Newswire)