Mumbai, January 20, 2020 Federal Bank announced the Unaudited
Financial Results for the quarter ended 31st December 2019. The major
highlights of the results on a Y-o-Y basis are as follows:
➢ Net profit records a growth of 32.07% ➢ Retail Advances grow by
23.02% ➢ Business Banking Advances register a growth 17.01% ➢ Other
income grows by 18.03%
The Bank continues to grow its retail franchise with strong momentum
in personal loans, home loans and auto loans. The gold loan segment
has also shown significant growth. Business Banking segment, part of
the SME book, continues to show a steady growth. The Bank adopted a
cautious approach in wholesale lending owing to the volatile
environment prevailing in the market. The liability growth remains
intact and continues to tread the path of growth. The quarter also saw
the Bank achieving the landmark figure of 1 Crore customers. The asset
quality of the Bank continues to improve under a strong focus for the
segment with retail slippage trending at a multi-quarter low.
Q3FY19 Vs Q3FY20
• Retail Advances registered a growth of 23.02% to reach Rs. 36550.76 Cr
• Business Banking Advances grew 17.01% to reach Rs. 10434.88 Cr
• Agri Advances grew by 17.40% to reach Rs.12469.16 Cr
• CASA increased to Rs. 45484.23 Cr
• NRE Deposits grew by 11.80% to reach Rs.53586.77 Cr
• The Net worth of the Bank reached Rs.14211.39 Cr
• Book Value per share increased to Rs. 71.33 from Rs. 64.60
Balance Sheet
The Total Business of the Bank grew 15.20% Y-o-Y from Rs.229007.49 Cr
as on 31st December 2018 to Rs.263814.04 Cr as on 31st December 2019.
While Total Deposits reached Rs.144591.93 Cr from Rs.123457.37 Cr, Net
Advances reached the figure of Rs. 119222.11 Cr as on 31st December
2019.
Operating Profit & Net Profit
The Bank recorded Operating Profit of Rs.743.82 Cr during the quarter
and Net Profit increased by 32.07% to reach Rs.440.64 Cr.
Margins
The Bank earned a Net Interest Income of Rs.1154.93 Cr for the
quarter. The Net Interest Margin of the Bank during quarter ended 31st
December 2019 stood at 3.00%.
Asset Quality
The Gross NPA and Net NPA of the Bank as at the end of the Quarter
stood at Rs.3618.69 Cr and Rs. 1941.01 Cr respectively. Gross NPA as a
percentage improved from 3.14% to 2.99% while Net NPA improved from
1.72% to 1.63% on a YoY basis. The Provision Coverage Ratio (including
technical write-offs) also improved from 64.2% to 66.38%. Stressed
asset book as a percentage of total average assets came to multi
quarter lows. Also, 98% of the slippages from the corporate business
came from the already identified watch listed cases.
NET WORTH & CAPITAL ADEQUACY
The Net worth of the bank increased from Rs.12815.13 Cr as on 31st
December 2018 to Rs.14211.39 Cr as on 31st December 2019. The Capital
Adequacy Ratio (CRAR) of the Bank, computed as per Basel III
guidelines stood at 13.64% as at the end of the quarter.
Footprint
The Bank has 1255 branches and 1965 ATM/ Recycler as on 31st December 2019.
