Destination-Kerala-Federal-Bank-(4)

Kochi: Federal Bank has announced the Unaudited Financial Results for the quarter ended December 31, 2016.

The total business of the Bank grew 26.91 per cent Y-o-Y from Rs. 1,27,544.85  crore to Rs. 1,61,864.87 crore as on December 31, 2016. While total deposits registered a yearly growth of 23.32 per cent to reach Rs. 92,235.65 crore, net advances grew 31.99 per cent to reach Rs. 69,629.22 crore.

The Bank continued with its consistent growth in the NRE and low cost deposit (CASA) segments. NRE Deposits of the Bank grew by 21.72 per cent to reach Rs. 34,546.66 crore as on December 31, 2016. CASA increased by 33.19 per cent to reach Rs.31,972.97 crore. CASA as a percentage to total deposits increased to 34.66 per cent as against 32.10 per cent at the end of the corresponding period last year.

On the Asset side, retail advances registered a Y-o-Y growth of 27.03 per cent to reach Rs. 21,309.78 crore. SME advances grew by 16.33 per cent to reach Rs. 16,323.99 crore as compared to Rs. 14,032.91 crore last year. Wholesale advances registered a growth of 53.17 per cent to reach Rs. 25,530.89 crore.

The operating profit of the Bank has increased by 45.91 per cent to reach Rs. 474.90 crore. Net profit increased by 26.39 per cent to reach Rs. 205.65 crore for the quarter ended December 31, 2016.

The Bank earned a Net Interest Income of Rs. 791.39 crore for the quarter. The Net Interest Margin of the Bank stood at 3.32 per cent.