Reported a strong set of numbers with overall beat in estimates.
- Advances grew 19.1% YoY, 4.3% QoQ at Rs. 1.71 lakh crore. Deposits were up 14.8% YoY with CASA growth at ~7% YoY
- NII up 27.1% YoY, 11.1% QoQ. NIMs up ~19 bps QoQ at ~3.5%
- GNPA was largely steady at 2.4%. Restructured book was at 1.78%
Key triggers for future price performance
- The management maintained its guidance of high teen growth in advances. Pressure on deposits accretion should ease gradually
- Target of doubling CV/CE, micro, credit cards & personal loans segments in the next two years to keep yields healthy
- Sustainable business growth, steady margins at ~3.4% and exit RoA of ~1.35% in FY24E are encouraging
For details, click on the link below: Link to the report
Shares of The Federal Bank Limited was last trading in BSE at Rs. 134.30 as compared to the previous close of Rs. 136.00. The total number of shares traded during the day was 464734 in over 5602 trades.
The stock hit an intraday high of Rs. 137.15 and intraday low of 133.55. The net turnover during the day was Rs. 63000955.00.