Federal Bank Registers 67% Growth in Net Profit. Delivers All Time High of 903 Cr
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Federal Bank announced its audited financial results for the quarter and year ended 31stMarch 2023 today.
Highlights
* Net Profit at 903 Cr, grew by 67% YoY
* Highest ever Operating Profit at 1335 Cr, grew by 67% YoY
* ROA for Q4 at 1.45% and ROE at 17.48%
* GNPA and NNPA brought down to 2.36% and 0.69% respectively
* Total Advances increased by 20.14%
* Total Deposits grew 17% YoY
* The Capital Adequacy Ratio (CRAR) of the Bank stood at 14.81%
Commenting on the results and financial performance, Mr. Shyam Srinivasan, Managing Director & CEO, Federal Bank said, “We have delivered industry leading outcomes with Net profit at ? 903 Cr QoQ and ROE at an all-time high at 17.48%. The consistent performance exhibited throughout the year has yielded in net annual profits of ? 3010.59 Cr, while maintaining benign asset quality across the segments. This very strong performance is a testimony to the dedicated efforts of the team and the trust of our customers. It’s noteworthy that our market share gains across product categories is gathering momentum quarters.”
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