Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

Federal Bank Profit surges 32% to Rs. 441 Crore backed by strong growth in Retail Franchise

Posted On: 2020-01-21 08:50:34

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.

Shares of FEDERAL BANK LTD. was last trading in BSE at Rs.93.8 as compared to the previous close of Rs. 91.65. The total number of shares traded during the day was 2529652 in over 11095 trades.

The stock hit an intraday high of Rs. 94.45 and intraday low of 88. The net turnover during the day was Rs. 231233612.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

IndiGo launches direct flights from Pune to Chandigarh and Indore

BHEL launches 'Quality First' Initiative

L&T constructs World's Largest Cricket Stadium at Motera, Ahmedabad

USFDA conducts inspection at Unichem Laboratories Limited's API facility at Roha

Thomas Cook India wins Best Outbound Tour Operator Award at the Outlook Traveller Awards 2020

Gravita India Ltd board declares interim dividend of Rs. 0.70

Pudumjee Paper Products Ltd Board approves interim dividend of Rs. 0.20 for FY20

Coastal Corporation Ltd board declares interim dividend of Rs. 1.50

ABM Knowledgeware Ltd bags order of Rs. 103.5 crore

AMJ Land Holdings Ltd Board approves interim dividend of Rs. 0.20

KNR Constructions Ltd board to consider interim dividend on Mar 10, 2020

Supreme Industries Ltd board to consider 2nd interim dividend on Feb 28, 2020

Paisalo Digital Ltd board approves issue of NCDs

Exide Industries Ltd board declares 2nd interim dividend of Rs. 2.50

Maruti Suzuki launches the all new powerful and stylish Vitara Brezza, powered by 1.5 litre K-series BS6 petrol engine

Goa Carbon resumes production at Goa unit from Feb 23, 2020

RPP Infra Projects wins a new order worth INR 98.15 Crores

SPIC announces shut down of plant

LG Balakrishnan & Bros Ltd Board declares Interim Dividend

Endurance Technologies Ltd board to consider interim dividend on Mar 3, 2020

LTTS awarded global services deal from Sweden's Dometic Group

Aditya Birla Capital Ltd receives DEA approval for investment by Jomei

KEC International Ltd announces acquisition of Power Transmission Tower manufacturing facility in Dubai

HOEC announces successful drilling of first well D-2 in Mumbai Offshore

Motherson Sumi Systems Ltd board to consider interim dividend on Feb 28, 2020

NLC India Ltd updates on arbitration award

Lasa Supergenerics Ltd to acquire Harishree Aromatics and Chemicals Pvt Ltd

KSB Ltd launches FGD KWPK

Pee Cee Cosma Sope Ltd board declares interim dividend of Rs. 3 for FY2019-20

Sacheta Metals Ltd declares interim dividend of Rs. 0.20 for FY20

Alufluoride Ltd board declares interim dividend of Rs. 2 for 2019-20

Biocon's Insulin Manufacturing Facility in Malaysia gets 3 obsevations from U.S. FDA (PAI) inspection

PNB Housing Finance Limited's ratings downgraded to 'CRISIL AA/FAA+ / Stable'

UPL Corporation Ltd prices $400 million bonds

Dilip Buildcon Ltd executes EPC agreement with AAI for project in Gujarat

USFDA conclude inspections at Solara's Puducherry and Mangalore facility with zero 483 observations

Hind Rectifiers Limited gets 26930 Sq Mtrs land on lease from MIDC

Vesuvius India Ltd Board recommends Dividend of Rs. 8.74

M&M to sell clean energy subsidiaries to CLP India Pvt. Ltd.

Apollo Tyres Ltd board to consider preferential issue, interim dividend

Alkem's manufacturing facility at Baddi receives 2 observations from USFDA

Gulshan Polyols Ltd board declares interim dividend of Rs. 0.70

Vesuvius India Ltd Q4 PAT up at Rs. 22.70 crore

Strides Consumer announces its strategic entry into Northern India

Sahyadri Industries Ltd board declares interim dividend of Rs. 2.5 for FY2019-20

Anuh Pharma Ltd board declares interim dividend of Rs. 2.75 for FY20

PVR Ltd Opens Multiplex at Nilamber Triumph Mall in Vadodara, Gujarat

Chemcrux Enterprises Ltd Board to consider Interim Dividend on Feb 27, 2020

Muthoot Finance Ltd raises USD 550 million from International Bond Markets

TCS UK Named in The Sunday Times List of Best Big Companies to Work For 2020







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019