Federal Bank Net Profit Grows 25% YoY



17th July 2018: Federal Bank announced the Unaudited Financial Results for the quarter ended 30th June 2018. The key highlights of the results on a Y-o-Y basis are as follows:

Ø  Net Profit records a growth of 25.01% to reach Rs. 262.71 Cr
Ø  Net interest income grew by 22.40%
Ø  Total Business increases by 19.40%
Ø  Total Deposits increases by 16.07%
Ø  NRE Deposits increases by 19.90%
Ø  Advances increases by 23.58%


Balance Sheet
The Total Business of the Bank registered a Y-o-Y growth of 19.40% to reach Rs.2,05,538.63 Cr as on 30th June 2018. While Total Deposits increased by 16.07% to reach Rs. 1,11,241.85 Cr, Advances grew by 23.58% to Rs. 94,296.78 Cr as on 30th June 2018.

CASA Deposits of the Bank grew 16.18% Y-o-Y to reach Rs. 37,233.83 Cr. CASA as a percentage to Total Deposits stands at 33.47 as on 30th June 2018. NRE Deposits grew by 19.90% from Rs. 37,370.46 Cr to Rs. 44,805.64 Cr.

On the Asset side, the retail advances grew by 18.97% to reach Rs.26,133.00 Cr as on 30th June 2018 while SME Advances registered a growth of 16.74% to touch Rs. 18,681.34 Cr, the Large Corporate Advances of the Bank records a growth of 31.53% to reach Rs. 41,001.79 Cr. Agri advances registered a growth of 22.05% to reach Rs.9,699.00 Cr.

Operating Profit & Net Profit
The Operating Profit of the Bank as on 30th June 2018 stood at Rs. 602.92 Cr up from Rs. 557.86 Cr as at the end of Q1FY18, despite having absorbed Rs.54 Cr of provisioning on account of unamortized gratuity expenditure in Q1FY19. The Total Income grew 10.74% Y-o-Y to reach Rs.2938.24 Cr. The Net Profit of the Bank as at the end of the current quarter stood at Rs. 262.71 Cr registering a Y-o-Y growth of 25.01%.

Margins
Net Interest Income grew 22.40% on a Y-o-Y basis from Rs. 800.68 Cr during the corresponding quarter last year to Rs. 980.06 Cr this quarter. Net Interest Margin as on 30th June 2018 stood at 3.12%.

Asset Quality
The Gross NPA of the Bank as at the end of the quarter stood at Rs.2868.82 Cr, which as a percentage to Gross Advances comes to 3.00%. The Net NPA as on 30th June 2018 stood at Rs.1620.22 Cr, and the Net NPA as a percentage to Net Advances is at 1.72%. The Provision Coverage Ratio is 64.71%.
               
NET WORTH & CAPITAL ADEQUACY
Bank’s Net worth on a Y-o-Y basis increased from Rs. 11541.90 Cr to Rs. 12382.79 Cr as on 30th June 2018. The Capital Adequacy Ratio (CRAR) of the Bank, computed as per Basel III guidelines stood at 14.50% as at the end of the quarter.

Footprint
The Bank has 1252 branches and 1684 ATMs as on 30th June 2018.

Q1FY17 Vs Q1FY18

  • Total Income for Q1 grew by 10.74% on a y-o-y basis to Rs.2938.24 Cr
  • Net Interest Income increased by 22.40% to Rs.980.06 Cr
  • Total Deposits increased by 16.07% from Rs.95,838.84 Cr to Rs.1,11,241.85 Cr
  • Savings deposits grew by 17.52% to reach Rs.31607.72 Cr
  • CASA grew by 16.18% to reach Rs.37,233.83 Cr
  • NRE deposits grew by 19.90% to reach Rs. 44,805.64 Cr
  • Advances increased by 23.58% from Rs. 76,307.11 Cr to Rs. 94,296.78 Cr
  • SME Advances registered a growth of 16.74% to reach Rs. 18,681.34 Cr
  • Investments stood at Rs. 28,311.54 Cr
  • Book Value per share increased to Rs. 62.62 from Rs. 59.42

WORKING RESULTS AT A GLANCE
                    (Rs.in Crore)
Particulars
Q1
Q1
% y-o-y growth

2018-19
2017-18
Net Profit
262.71
210.15
  é  25.01%
Interest Income
2667.38
2324.10
  é  14.77%
Total Income
2938.24
2653.20
  é  10.74%
Net Interest Income
980.06
800.68
  é  22.40%
Operating Profit
602.92
557.86
  é  8.08%

MAJOR FINANCIAL INDICATORS (Standalone Nos)
                                                                                                                                                            (Rs. in Cr)
Business Figures
As on 30.6.2018
As on 30.6.2017
Growth (%)
Total Deposits
111241.85
95838.84
é16.07%
SB & Demand Deposits
37541.53
32,643.24
é15.01%
Advances
94296.78
76307.11
é23.58%
Retail Advances
26133.00
21965.00
          é18.97%
SME Advances
18681.34
16001.00
é16.74%
Agri Advances
9699.00
7946.77
          é22.05%
Investments
28311.54
26691.34
é6.07%
Capital



Equity Capital
395.52
388.46

Net Worth
12382.79
11541.90
é7.29%
Capital Adequacy (%)
14.50
15.28

Tier I (%)
14.01
14.72

Tier II (%)
0.49
0.56