Q4FY21 Result Update - Federal Bank - ICICI Direct

Federal Bank reported mixed results wherein it saw an improvement in business growth and stable asset quality but with utilisation of Covid-provisions in the current quarter, additional provisioning buffer has reduced. Net interest income (NII) declined 1.2% QoQ to Rs. 1420 crore. This was below our expectations. Reversals worth Rs. 21 crore for interest on interest relief were party responsible for slower NII growth. NIMs remained stable at 3.23% vs. 3.22% on a QoQ basis aided by lower cost of funds. Other income also declined 3.4% QoQ to Rs. 465 crore as treasury income fell 44% QoQ but fee income saw decent growth of 21.9% YoY, 3.5% QoQ.

For details, click on the link below: Link to the report

Shares of FEDERAL BANK LTD. was last trading in BSE at Rs.84.35 as compared to the previous close of Rs. 81.65. The total number of shares traded during the day was 4502735 in over 16097 trades.

The stock hit an intraday high of Rs. 86.4 and intraday low of 83.15. The net turnover during the day was Rs. 382454896.

Source : Equity Bulls

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