Federal Bank delivers highest ever operating profit at Rs. 583 Cr
Author(s): City Air NewsMumbai, October 16, 2017:Federal Bank announced the Unaudited Financial Results for the quarter ended 30th September 2017. The key highlights of the results on a Y-o-Y basis are as follows: Ø Net profit...
Ø
Net profit grows
by 31%,at Rs.264 Cr
Ø
Total Business
increases by 17.80%
Ø
Asset quality
improves significantly, GNPA at 2.39% & NNPA at 1.32%
Ø
Retail deposits
grow by 16%
Ø
NRE Deposits
increases by 17.86%
Ø
CASA grows by
19.52%
Ø
Total Advances
increases by 24.54%
Ø
Retail Advances
grows by 16.51%
Ø
Wholesale
Advances grows 35.63%
WORKING RESULTS AT A GLANCE
(Rs.in Crore)
Particulars |
Q2 |
Q2 |
% y-o-y growth |
|
2017-18 |
2016-17 |
|
Net Interest Income |
898.91 |
726.18 |
é23.79% |
Net Total Income |
1186.13 |
998.26 |
é18.82% |
Operating Profit |
583.20 |
474.93 |
é22.80% |
Net Profit |
263.70 |
201.24 |
é31.04% |
Balance Sheet
The
Total Business of the Bank registered a Y-o-Y growth of 17.80% to reach Rs.
177856.63 Cr as on 30th September 2017, backed by a solid growth of
24.54% in gross advances. Total Advances grew from Rs.65439.31 Cr to Rs.81496.54 Cr. The Total Deposits
increased from Rs.86299.10 Cr to Rs.
97210.75 as on 30th September 2017, registering a growth of
12.64%.
NRE
Deposits of the Bank registered a 17.86% growth from Rs.32459.20 Cr to
Rs.38255.82 Cr. CASA Deposits grew by 19.52 % Y-o-Y to reach Rs. 32015.57 Cr.
On
the Asset side, wholesale advances grew by 35.63% to reach Rs.32175.41 Cr.
Retail Advances clocked a growth of 16.51%. SME Advances grew by 18.02% from
Rs.14955.28 Cr to Rs.17650.78 Cr as on 30th September 2017. Housing
Loan registered a Y-o-Y growth of 20.71% from Rs.8350.60 Cr to Rs.10080.22.
Operating Profit & Net Profit
The
Bank registered an Operating Profit of Rs.583.20 Cr. and a Net Profit of Rs.
263.70 Cr. for the quarter ended 30th September 2017. Net profit
grows by 31.04% as compared to the corresponding quarter last year. The Operating
Profit and Net Profit for the half year ended 30th September 2017
stood at Rs. 1141.06 Cr and Rs.473.85 Cr respectively.
Margins
The
Bank earned a Net Interest Income of Rs.898.91 Cr for the quarter ended 30th
September 2017. Net Interest Margin stood at 3.31% as on 30th
September 2017.
Asset Quality
The
Gross NPA of the Bank as at the end of Q2FY18 stood at Rs.1948.97Cr, which as a
percentage to Gross Advances stood at 2.39%. The Net NPA and the Net NPA as a
percentage to Net Advances as on 30th September 2017 stood at
Rs.1066.38Cr and 1.32% respectively. The Provision Coverage Ratio (including
technical write-offs) is 70.32%.
NET
WORTH & CAPITAL ADEQUACY
The
Net worth of the bank increased from Rs.8366.91Cr to Rs.11647.32Cr, as on 30th September 2017. The Capital
Adequacy Ratio (CRAR) of the Bank, computed as per Basel III guidelines stood
at 14.63% as at the end of the quarter.
Footprint
The
Bank has 1252 branches and 1678 ATMs as on 30th September 2017.
Q2FY17 Vs Q2FY18
·
Total Deposits increased by 12.64%
from Rs.86299.10 Cr to Rs.97210.75.
·
Savings deposits grew by 21.15% to
reach Rs.27155.49 Cr
·
CASA grew by 19.52% to reach
Rs.32015.57 Cr
·
CASA ratio at 32.93%.
·
NRE deposits grew by 17.86% to
reach Rs.38255.82 Cr.
·
Advances increased by 24.54% from Rs.65439.31
Cr to Rs.81496.54.
·
Wholesale Advances increased by
35.63% from Rs.23721.58 to Rs.32175.41 Cr.
·
Retail advances grows by 16.51% to
reach Rs.23255.62 Cr.
·
SME Advances registered a growth
of 18.02% to reach Rs.17650.78 Cr.
·
Investments stood at Rs.26317.50
Cr.
·
Book Value per share increased to
Rs.59.59 from Rs.48.63.
MAJOR
FINANCIAL INDICATORS (Standalone nos.)
(Rs. in Crore)
Business Figures |
As on 30.9.2017 |
As on 30.9.2016 |
Growth (%) |
Total Deposits |
97210.75 |
86299.10 |
é12.64% |
SB & Demand Deposits |
32625.23 |
27405.87 |
é19.04% |
Gross Advances |
81496.54 |
65439.31 |
é24.54% |
Retail Advances |
23255.62 |
19960.14 |
é16.51% |
SME Advances |
17650.78 |
14955.28 |
é18.02% |
Agri Advances |
8414.73 |
6802.30 |
é23.70% |
Capital |
|
|
|
Equity Capital |
390.91 |
344.10 |
|
Net Worth |
11647.32 |
8366.91 |
é39.21% |
Capital Adequacy (%) |
14.63 |
12.85 |
|
Tier I (%) |
14.09 |
12.22 |
|
Tier II (%) |
0.54 |
0.63 |
|