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Federal Bank Q2 net profit up 5 pc

Federal Bank Q2 net profit up 5 pc

New Delhi: Private sector lender Federal Bank recorded a modest rise of 5 per cent in net profit at for the July-September quarter this year, as against Rs 215 crore in the corresponding period last fiscal.

Besides, total income of the Kerala-based bank grew by 11.58 per cent in the second quarter to Rs 1,858 crore on a year-on-year basis.

Meanwhile, total deposits increased by 14.69 per cent from Rs 49,518 crore to Rs 56,794 crore, whereas advances grew 16.31 per cent from Rs 36,299 crore to Rs 42,220 crore.

The net non-performing assets (NPAs) of the bank stood at 0.98 per cent, while net interest margin (NIM) improved on a sequential basis to 3.30 per cent in the second quarter from 3.13 per cent in the previous quarter.

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