Federal Bank clocks highest ever quarterly operating profit at Rs. 549 Cr

Posted by: at 4/28/2017 05:17:00 am
Federal Bank clocks highest ever quarterly operating profit at Rs. 549 Cr

Mumbai, April 28, 2017: Federal Bank announced the audited financial results for the quarter and year ended 31st March 2017 today at Kochi.  The key highlights of the results are:
·         Other income clocks a significant growth of 33.85%
·         Operating profit records a staggering growth of 35.20% to reach Rs. 1924.93 Cr
·         Retail Advances registered a growth of 25.75% to reach Rs. 21,793.62 Cr
·         CASA grew by 23.86% to reach Rs. 31,837.63 Cr
·         Corporate Advances registers a growth of 38.20%
 
WORKING RESULTS AT A GLANCE:
          (Rs.in Crore)
Particulars
FY17
FY16
% y-o-y growth
Net Interest Income
3052.65
2507.71
  é21.73%
Other Income
1081.81
808.20
  é33.85%
Total Income
9759.20
8556.35
  é14.06%
Operating Profit
1924.93
1423.78
  é35.20%
Net Profit
830.79
475.65
  é74.66%
 
 
 
 
 
 
 
 
 
 
 
 
Balance Sheet:
The Total Business of the Bank registered a growth of 24.58% to reach Rs. 171000.84 Cr as on 31st March 2017. While the Deposit portfolio increased by 23.36% from Rs. 79171.71 Cr as on 31st March 2016 to Rs. 97664.56 Cr as on 31st March 2017. Total Advances grew by 26.25% to reach Rs. 73336.28 Cr as on 31st March 2017. The NRE deposits of the Bank posted a growth of 18.46% during the year to reach Rs. 36407.17 Cr. The low-cost CASA segment reached Rs. 31837.63 Cr, up by 23.86%. On the asset side, Retail advances recorded a growth of 25.75% to Rs.21793.62 Cr and corporate advances went up by 38.20% to Rs. 27158.70 Cr.
Operating Profit & Net Profit:
The Bank posted an Operating Profit of Rs. 1924.93 Cr. and a Net Profit of Rs. 830.79 Cr. for the year ended 31st March 2017.
Margins:
Net Interest Income grew by 21.73% from Rs. 2507.71 Cr in FY16 to Rs. 3052.65 Cr in FY17. Net Interest Margin stood at 3.31% for FY17.
 
Asset Quality:
The Gross NPA of the Bank as on 31st March 2017 stood at Rs. 1727.05 Cr. Gross NPA as a percentage to Gross Advances is 2.33% which is lower than 2.84% as at the end of FY16. The Net NPA stood at Rs. 941.20 Cr and this as a percentage to Net Advances is 1.28%. The Provision Coverage Ratio (including technical write-offs) stood at 71.75%. 
 
Net Worth & Capital Adequacy:
The Net Worth of the Bank grew by 11.42% to Rs.8856.47 Cr as against Rs.7948.96 Cr in the previous year. The Capital Adequacy Ratio (CRAR) of the Bank, computed as per Basel III guidelines, stood at 12.39% as on 31st March 2017.
 
Footprint:
The Bank has 1252 branches and 1667 ATMs as on 31st March 2017. The Bank also has its Representative Office at Abu Dhabi & Dubai and an IFSC Banking Unit (IBU) in Gujarat International Finance Tec-City (GIFT City).
 
Q4FY16 Vs Q4FY17:
·         Total Deposits increased by 23.36% from Rs. 79,171.71 Cr to Rs. 97,664.57 Cr.
·         Savings deposits grew by 23.23% to reach Rs. 26397.67 Cr
·         CASA grew by 23.86% to reach Rs. 31,837.63 Cr
·         CASA ratio improved from 32.47% to 32.60%.
·         NRE deposits increased by 18.46% to reach Rs. 36,407.17 Cr
·         Net Advances grew by 26.25% from Rs. 58,090.14 Cr to Rs. 73336.28 Cr.
·         Retail Advances registered a growth of 25.75% to reach Rs. 21,793.62 Cr.
·         Corporate Advances grew by 38.20% from Rs. 19,651.67 Cr to Rs. 27,158.70 Cr.
MAJOR FINANCIAL INDICATORS (Standalone nos.):
                                                                                                                                                          (Rs. in Cr)
Business Figures
As on 31.3.2017
As on 31.3.2016
Growth (%)
Total Deposits
97664.57
79171.71
é23.36%
SB & Demand Deposits
32052.85
26052.59
é23.03%
Net Advances
73336.28
58090.14
é26.25%
Retail Advances
21793.62
17330.70
é25.75%   
SME Advances
17641.13
15172.07
é16.27%
Agri Advances
7497.28
6636.20
é12.98%   
Gross NPA (%)
2.33
2.84
 
Net NPA (%)
1.28
1.64
 
Capital
 
 
 
Equity Capital
344.81
343.79
 
Net Worth
8856.47
7948.96
é 11.42% 
Capital Adequacy (%)
12.39
13.93
 
Tier I (%)
11.81
13.36
 
Tier II (%)
0.58
0.57
 
 
About Federal Bank:
Federal Bank is a leading Private Sector Bank with a branch network of 1,252 branches and 1,667 ATMs spread across the country. The Bank’s total business mix (deposits + advances) stands at Rs 1.71 Lakh Crore as at March 31, 2017 and it has earned a net profit of Rs 830.79 Crore.  Bank’s Capital to Risk weighted Ratio (CRAR) stood at 12.39% at the end of March 31, 2017.  Federal Bank has its Representative Office at Dubai and Abu Dhabi that serves as a nerve centre for NRI customers in the UAE. The Bank also has an IFSC Banking Unit (IBU) in Gujarat International Finance Tec-City (GIFT City).Federal Bank is transforming itself, keeping its principles intact, into an organization that offers services beyond par. It has a well defined vision for the future as a guidepost to its progress. During FY 17 the bank handled around 15 % of the total personal inward remittance to India.      


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