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Federal Bank has announced a hike in interest rates for deposits with effect from 15th August 2023. This special rate enhancement aligns with the spirit of 77th Independence Day, with an impressive 77 basis points higher than the standard rate for senior citizens for selected periods. The term deposit rate for a tenure of 13 months would fetch interest rates of 7.30% for general category and 8.07% for senior citizens. The enhanced rates would...
Federal Bank hikes Deposit Rates for Independence Day
Federal Bank as part of its CSR activity is contributing to support the celebration and recognition of Indian sports and our athletes in preparation for the upcoming Paris Olympics and Paralympics scheduled to take place in July-August 2024. The Bank is sponsoring a physical and mental health conclave, as well as 15 weekly talk shows on various aspects of sports, health and education. The first show, is aired with Manasi Joshi, the Paralympic badminton star and Boria Majumdar, autho...
Federal Bank celebrates Indian sports and athletes in preparation for the upcoming Paris Olympics and Paralympics
Price Analysis Federal Bank has reported mixed 1QFY24 earnings and the key pointers are a) NPA ratio slightly weak (GNPA: 2.38% v/s 2.36% in the previous quarter) on the back of higher slippages and slower recoveries, b) Reported slippages (?5bn v/s ?4.4bn in 4QFY23) were up with slower recoveries (?2.5bn), c) restructuring pool declines further with 21% coverage, d) Robust business growth with credit off-take of 21% and deposit traction of 21.3%, e) slightly higher credit cost with stable...
Buy Federal Bank Ltd For Target Rs 155 - LKP Securities Ltd
Despite QoQ decline in NIMs and rise in provisioning, Federal Bank (Federal) reported reasonable Q1FY24 PAT of Rs8.54bn (up 42% YoY, down 5% QoQ), driven by strong ‘other income’. Annualised RoA came in at 1.28% vs 1.44% QoQ. Loan growth continues to outpace the system and stood at 21% YoY (up 5% QoQ) and, more importantly, it was broad-based. NIMs declined further ~15bps QoQ as rise in cost of deposits outpaced rise in loan yields. Compared to peers, Federal’s performance o...
Buy Federal Bank Ltd For Target Rs 155 - ICICI Securities Ltd
* FB posted a mixed quarter, with in-line PAT and lower-than-expected NII. PAT grew 42% YoY to INR8.5b, aided by high other income (28% beat). The NII miss was due to a 16bp fall in NIM to 3.15%. The PCR was stable at ~71%. * Gross advances grew 21% YoY, driven by a broad-based pickup in all business segments. Deposit growth too was healthy, aided by strong traction in term deposits. Thus, the CASA ratio moderated to 31.9%. * Slippages came in at INR4.9b, led by a 77.6% QoQ increase in ...
Buy Federal Bank Ltd For Target Rs 155 - Motilal Oswal Financial Services Ltd
The Federal Bank is currently trading at Rs. 129.25, up by 2.45 points or 1.93% from its previous closing of Rs. 126.80 on the BSE. The scrip opened at Rs. 128.75 and has touched a high and low of Rs. 129.80 and Rs. 126.70 respectively. So far 751771 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 143.35 on 16-Jan-2023 and a 52 week low of Rs. 96.10 on 14-Jul-2022. Last one week high and low of the scrip stood a...
Federal Bank jumps on reporting 39% rise in Q1 consolidated net profit
Eighteen of India's 20 largest banks saw increases in market capitalization in the second quarter, boosted by a stock rally amid the banking sector's strong recovery, according to S&P Global Market Intelligence data and analysis. Nine banks reported double-digit percentage gains in market capitalization, led by IDFC First Bank Ltd. with a 44.53% climb to $6.41 billion. The lender rose to No. 11 from No. 14 in the ranking. IDBI Bank Ltd. climbed three spots to No. 8 after a 2...
Nine banks reported double-digit percentage gains in market capitalization led by IDFC First Bank
Gold, a precious asset in Indian households, holds immense sentimental value as it is passed down through generations. Recognizing the emotional and financial significance of gold, Federal Bank introduces its groundbreaking Gold Loan Campaign, narrated by none other than the protagonist itself—the gold. In a refreshing departure from conventional loan campaigns, Federal Bank's focus is not on the interest rates, swift delivery, or fancy dreams associated with gold loans...
Federal Bank Unveils Innovative Gold Loan Campaign, Showcasing the Transformative Journey of Gold
Multi-quarter high RoA / RoE at 1.45% / 17.5% despite 18bps QoQ decline in NIM, steady decline in net stressed asset portfolio to 1.6%, advance growth at 20% YoY and 34% YoY growth in core fee income summarise Federal Bank’s (FB) strong financial performance in Q4FY23. This is an outcome of the management’s successful execution of its new business strategy revolving around scaling up of high-margin products like CV / CE, MFI, MSME and credit cards (put together contributes 2...
Buy Federal Bank For Target Rs 180 - ICICI Securities
Despite slight upset on margins (down 18bps qoq to 3.3%), Federal Bank reported beat on PAT at Rs9bn (vs our est at Rs8.1bn) on the back of higher treasury gains and lower provisions. The bank reported exit RoA of 1.45% in 4Q/1.3% in FY23 and has guided for RoA of 1.3-1.35% in FY24. It reported 20% credit growth in FY23 and expects high teen growth in FY24 as well, mainly led by strong traction in retail. Mgmt. has guided for slightly better NIM at 3.30-3.35% for FY24E vs. 3.3% for FY23 due t...
Buy Federal Bank For Target Rs 180 - Emkay Global Financial Services Ltd
* FB posted a mixed quarter, with an 8% beat in PAT and a 6% miss in NII. PAT grew 67% YoY to INR9b, aided by low provisions. The NII miss was due to an 18bp fall in NIM to 3.31%. FB has prudently increased the PCR to ~71%. * Gross advances grew 20.1% YoY, driven by a broad-based pickup in all business segments. Deposit growth too was healthy, aided by strong traction in term deposits. Thus, the CASA ratio moderated to 32.7%. * Slippages came in at INR4.5b (~1.0% of loans), led by a QoQ...
Buy Federal Bank For Target Rs 155 - Motilal Oswal Financial Services Ltd
Pidilite Industries (PIDIND) Buy Pidilite Industries (PIDIND) CMP 2411.75; Target 2444.00; Stop Loss 2397.00 Federal Bank (FEDBAN) Buy Federal Bank (FEDBAN) CMP 135.00; Target 136.50; Stop Loss 133.40 To Read Complete Report & Disclaimer Click Here Please refer disclaimer at https://secure.icicidirect.com/Content/StaticData/Disclaimer.html SEBI Registration number INZ000183631 Above views...
Stock Picks : Pidilite Industries Ltd and Federal Bank Ltd By ICICI Direct
RoA progression on a fast track Robust NII and controlled provisions drive earnings * FB reported a strong quarter with a PAT of INR8b (up 54% YoY and 13% beat), aided by lower provisions and NIM expansion even as the bank prudently increased the PCR to ~70%. Margin improved 19bp QoQ to 3.49%. * Gross advances grew 19.1% YoY, led by a broad-based pickup across all business segments. Deposit growth was healthy, led by strong traction in term deposits, while CASA ratio moderated to 34....
Buy Federal Bank For Target Rs 170 - Motilal Oswal
High growth aspirations with focus on sustaining high RoAs across cycles Federal Bank (FB) hosted its Analyst Day on 28-Feb-2023, offering an update on the progress till date as well as future growth plans encompassing increasing share of high-margin products (currently at 21%), fortifying market leadership in select products, improving core fees and operating leverage to sustain higher RoAs. KTAs from the event are: * Bank re-orienting its loan portfolio towards high-yielding...
Buy Federal Bank For Target Rs 185 - Emkay Global Financial Services
Outperforming growth guidance; ROA/ROE at multi quarter highs Price Analysis: Federal Bank has reported strong 3QFY23 earnings and the positive pointers are a) NPA ratio improvement (GNPA: 2.43% v/s 2.46% in the previous quarter) on the back of healthy credit growth and strong recoveries, b) Reported slippages (?4bn v/s ?3.7bn in 2QFY23) were higher with healthy recoveries (?2.8bn), c) restructuring pool flat with 21% coverage, d) Robust NII growth (27% YoY and 11% QoQ) with 19bps expan...
Buy Federal Bank For Target Rs 168 - LKP Securities
Flagged as a top pick in 2021, FED marches on Result Highlights * Asset quality: Gross slippages amounted to Rs 4.12bn (annualized slippage ratio of 1.0%) and recoveries and upgrades were healthy at Rs 2.87bn * Margin picture: NIM at 3.49% was up 19 bps QoQ as yield on advances moved up faster than cost of deposits * Asset growth: Advances grew 4.3%/19.1% QoQ/YoY driven sequentially by Agri, Business Banking, CV/CE and Corporate loans * Opex control: Total opex rose 4.9%/9.7% Q...
Buy Federal Bank For Target Rs 185 - Yes Securities
Improving visibility on RoA sustaining >1.2% in FY23/24E; credit growth to remain strong Multi-quarter high RoA / RoE at 1.3% / 16% despite Rs0.5bn additional provision towards SR portfolio, sharp NIM expansion by >15bps QoQ, steady decline in net stressed asset portfolio to 1.8% summarise Federal Bank’s strong financial performance during Q3FY23. This is an outcome of the management’s successful execution of its new business strategy revolving around scaling up of highma...
Buy Federal Bank For Target Rs 170 - ICICI Securities
Strong quarter, RoEs to hold near current levels; maintaining a Buy Higher margins and fee income led to a ~12% sequential increase in core operating profits for Federal Bank. The strong operating performance and benign credit cost (38bps) led to the better RoA. Asset quality was stable. Given the bank’s strong liability franchise and capitalisation, it is set to gain market share in the near term. We maintain our positive view on it, with a Rs180 target price, valuing it at 1.3x P/A...
Buy Federal Bank Ltd For Target Rs. 180 - Anand Rathi Share and Stock Brokers
Mumbai: Federal Bank was the winner under the category of large Private Sector Bank Category at the 14th Banking Excellence Awards organised by The State Forum of Bankers' Clubs of Kerala, SFBCK. In a celebratory function held at Hotel Le Meridien Kochi, Shalini Warrier, Executive Director, Federal Bank received the award from former Honourable President of India, Shri Ram Nath Kovind in the presence of Nandakumar V, Executive Vice President & Head &ndash...
Federal Bank wins the Banking Excellence Award organised by SFBCK
Federal Bank won The Silver Shield in ICAI Award in category II(A)-Private Sector Banks (including Foreign Banks) other than Small Finance Bank in Financial Reporting for the year ended March 31, 2022. This is for the second consecutive time that the Bank has won the award. Last year too, Federal Bank won The Plaque. The selection was done by an expert jury of ICAI after reviewing the accounting practices adopted by participating enterprises while preparing their financial ...
Federal Bank wins ICAI Award for Excellence in Financial Reporting consecutively for the second time
Yet another strong quarter with all-round performance About the stock: Federal Bank is an old private sector bank based out of Kerala with 1333 branches and 1896 ATM across various states. * Market share in advances and deposits was at 1.26% and 1.12%, respectively, as of December 2022 * Balanced loan mix with retail: wholesale mix of 54:46 Q3FY23 Results: Strong set of numbers; optimistic outlook * Advances grew 19.1% YoY, 4.3% QoQ at | 1.71 lakh crore. Deposits were up 14.8% ...
Buy Federal Bank For Target Rs 165 - ICICI Direct
Buy Federal Bank Ltd For Target Rs.180 Higher margins and fee income led to a ~12% sequential increase in core operating profits for Federal Bank. The strong operating performance and benign credit cost (38bps) led to the better RoA. Asset quality was stable. Given the bank’s strong liability franchise and capitalisation, it is set to gain market share in the near term. We maintain our positive view on it, with a Rs180 target price, valuing it at 1.3x P/ABV on its FY25e book. RoE ...
Federal Bank Ltd : Strong quarter, RoEs to hold near current levels; maintaining a Buy - Anand Rathi Shares and Stock Brokers
Federal Bank announced Financial Results for the quarter and nine months ended on 31st December 2022. Highlights of the results on a Y-o-Y basis are as follows: Highlights * Net Profit highest ever @ ? 804 Cr, increases by 54% YoY * Operating Profit highest ever @ 1274 Cr * ROA for Q3 at 1.33% and ROE at 15.91% * Highest ever Net Interest income at ? 1957 Cr, increases by 27.14% YoY * NIM increased to 3.49%, higher by 22 bps YoY * GNPA and NNPA brought down to 2.43% and 0.73% re...
Federal Bank Continues Its Momentum with an all-time high Net Profit At ?804 Cr and Highest ever NII At ?1957 Cr.
Federal Bank is currently trading at Rs. 139.40, up by 1.75 points or 1.27% from its previous closing of Rs. 137.65 on the BSE. The scrip opened at Rs. 137.65 and has touched a high and low of Rs. 142.10 and Rs. 137.65 respectively. So far 500774 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 142.25 on 15-Dec-2022 and a 52 week low of Rs. 82.50 on 26-May-2022. Last one week high and low of the scrip stood at Rs...
Federal Bank trades higher on reporting 19% rise in gross advances in Q3FY23
Technical Outlook • The banking sector has been spearheading the ongoing bull run, we expect it to continue its outperformance as the Bank Nifty has recently generated a breakout above its 14 months range. Federal Bank is our top pick among midcap banking stocks • The stock has recently generated a resolute breakout above its last five years range (| 127-36) as it resolved above CY17 highs (| 127) signalling a start of a new bull phase • We expect thrust from the recen...
Buy Federal Bank Ltd For Target Rs.168 - ICICI Direct
Strong growth momentum; RoA trajectory to remain at >1% Business Update – Q2FY23 * Federal Bank (FB) posted higher-than-expected growth, at 19% YoY/6% QoQ (the highest in the past 13 quarters) in Q2FY23 vs 16% YoY/5% QoQ in Q1. The growth is now broadbased across loan products, with YoY retail book growth at 19% and wholesale credit growth at 20%. We believe that retail credit acceleration is mainly driven by mortgages, followed by gold and auto loans. Factoring-in the strong g...
Buy Federal Bank For Target Price Rs.147 - Emkay Global Financial Services
Federal Bank (FB) released a quarterly update emphasizing its 2QFY23 business numbers. Here are the key highlights: * Gross advances grew strongly at ~19.4% YoY to ~INR1.64t and also reported a robust sequential growth of 6.2% (v/s 4.6% QoQ in 1QFY23). * According to the internal classification of the bank, retail credit grew 18.7% YoY while wholesale book posted a strong growth of 20.2% YoY. With this, the share of retail in total loan mix stood at 54% in 2QFY23. * Total deposit bas...
Buy Federal Bank : Robust sequential loan growth; deposits traction too healthy QoQ - Motilal Oswal Financial Services
NTPC Ltd Buy NTPC Ltd @ 173.50-174.50 CMP 175.15 Stop Loss 72.40 Target 175.40/176.80 Federal Bank Ltd Buy Federal Bank Ltd @ 136-137 CMP 137.30 Stop Loss 135.20 Target 137.80/139.00 To Read Complete Report & Disclaimer Click Here Please refer disclaimer at https://secure.icicidirect.com/Content/StaticData/Disclaimer.html SEBI Registration number INZ000183631 Abov...
Stock Picks - NTPC Ltd And Federal Bank Ltd By ICICI Direct
Federal Bank * Federal bank is one of India's largest old generation private sector banks. At the end of Q2 FY2023 the bank had advances of Rs. 1.61 lakh cr. And deposits of Rs 1.89 lakh cr. The bank predominantly has a secured lending book which helped limit asset quality issues during the Covid 19 pandemic. * Federal Bank has posted a good set of numbers for Q2FY23 as NII, and Advances increased by 19.1%/19.9% YoY. Provisioning for the quarter was up by mere 9% YoY because of whic...
Diwali Fundamental Muhurat Picks By Angel One
We have handpicked a few stocks for buying this Diwali that have given breakouts and showing strong accumulation patterns on the medium and longer-term charts. We have covered Large Caps as well as Mid Cap stocks that have performed in line with the market trend over the last one year and are now trading above their breakout levels. A few of them are at their major support levels. We advise accumulating these stocks in the recommended buying range to cover the downside risks and corrections i...
Diwali Muhurat Technical Picks: Underlying Strategy By Axis Securities
Strong delivery on growth; margins and asset quality to drive-up RoAs * Federal Bank reported a strong beat on PAT yet again, at Rs7bn (vs est: Rs 6.3bn), mainly backed by better delivery on growth/margins, fees and treasury, and partly offset by higher provisions to shore-up PCR. The bank has clocked 1.2% RoA in Q2 and is gaining confidence on growth/margins, given that it has upped its RoA guidance for FY22 to 1.2% (Q4 exit RoA to 1.25%). * Bank delivered a strong 20% YoY/6% QoQ credi...
Buy Federal Bank Ltd For Target Rs. 150 - Emkay Global Financial Services
BUY ARVIND FASHIONS LTD Scrip : ARVINDFASN; Sentiment: BULLISH; Entry : 310-290; Stop Loss: 230; Target :1 400; Target 2 : 440 *In the calendar year of 2021; ARVINDFASN rallied more than 150% in a matter of just 3 months (From 135 it went above 360 mark). Then after it corrected 61.8% of the entire move and has been consolidating. *At this juncture; it is again on the verge of fresh breakout and that indicates a continuation of the pr...
Diwali 2022 : Technical picks By Anand Rathi Share and Stock Brokers
Robust performance; RoA progression on a fast track * FB reported a strong quarter with a PAT of INR7b (up 53% YoY and 17% beat), aided by NIM expansion and higher ‘other income’ even as the bank prudently increased the PCR to ~69%. Margin improved 8bp QoQ to 3.3%. * Gross advances grew 19.4% YoY, led by a broad-based pickup across all business segments. Corporate grew the fastest at 21% YoY, followed by SME/ Retail/Agri at 20%/18%/18%, respectively. Its CASA ratio stood at ...
Buy Federal Bank Ltd For Target Rs.155 - Motilal Oswal Financial Services
Flagged as a top pick last year, FED continues to deliver Result Highlights * Asset quality: Gross slippages amounted to Rs 3.90bn (annualized slippage ratio of 1.0%) and recoveries and upgrades were healthy at Rs 3.29bn * Margin picture: NIM at 3.30% was up 8 bps QoQ on account of 35bps QoQ increase in yield on advances as against 16 bps QoQ increase in cost of deposits * Asset growth: Advances grew 6.2%/19.4% QoQ/YoY driven sequentially by Business Banking, CV/CE and Corpo...
Buy Federal Bank Ltd For Target Rs.165 - Yes Securities
The Federal Bank is currently trading at Rs. 131.55, up by 1.30 points or 1.00 % from its previous closing of Rs. 130.25 on the BSE. The scrip opened at Rs. 131.75 and has touched a high and low of Rs. 132.65 and Rs. 129.20 respectively. So far 719064 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 132.65 on 17-Oct-2022 and a 52 week low of Rs. 78.70 on 27-Dec-2021. Last one week high and low of the scrip s...
Federal Bank hits 52-week high on the BSE
Strong quarter with all-round performance About the stock: Federal Bank is an old private sector bank based out of Kerala with 1305 branches and 1876 ATM across various states. * Market share in advances and deposits was at 1.24% and 1.08%, respectively, as of September 2022 * Balanced loan mix with retail: wholesale mix of 54:46 Q2FY23 Results: Strong performance on growth, earnings and asset quality. * Advances grew 19.4% YoY, 6.1% QoQ at | 1.63 lakh crore. Deposits were up 1...
Buy Federal Bank Ltd For Target Rs.155 - ICICI Direct
Chennai:Federal Bank announcedFinancial Results for the quarter and half year ended 30thSeptember 2022. Highlights of the results on a Y-o-Y basis are as follows: Highlights • Net Profit highest ever @ ?704 Cr, increases by 53% YoY • Operating Profit highest ever @ 1212 Cr • ROA for Q2 at 1.21% and ROE at 14.36% • Highest ever Net Interest income at ? 1762 Cr, increases by 19.09% YoY • NIM increased to 3.30%, higher by 10bps YoY • GNPA and NNPA brought d...
Federal Bank delivers highest ever quarterly net profit at Rs.704 Cr, rises by 53%
Strong growth momentum; RoA trajectory to remain at >1% Business Update – Q2FY23 * Federal Bank (FB) posted higher-than-expected growth, at 19% YoY/6% QoQ (the highest in the past 13 quarters) in Q2FY23 vs 16% YoY/5% QoQ in Q1. The growth is now broadbased across loan products, with YoY retail book growth at 19% and wholesale credit growth at 20%. We believe that retail credit acceleration is mainly driven by mortgages, followed by gold and auto loans. Factoring-in the strong g...
Buy Federal Bank Ltd For Target Rs.147 - Emkay Global Financial Services
Federal Bank (FB) released a quarterly update emphasizing its 2QFY23 business numbers. Here are the key highlights: * Gross advances grew strongly at ~19.4% YoY to ~INR1.64t and also reported a robust sequential growth of 6.2% (v/s 4.6% QoQ in 1QFY23). * According to the internal classification of the bank, retail credit grew 18.7% YoY while wholesale book posted a strong growth of 20.2% YoY. With this, the share of retail in total loan mix stood at 54% in 2QFY23. * Total deposit bas...
Update On: Federal Bank Ltd By Motilal Oswal Financial Services
Last week, Reserve Bank of India, permitted foreign inward remittances to be received under the rupee drawing arrangement (RDA) through the Bharat Bill Payment System (BBPS). Consequently, Federal Bank, one of India’s leading Private Sector Banks, has tied up with BBPS to facilitate Utility Bill Payment services for Non-resident Indian Diaspora. This arrangement enables overseas remittance partners (Exchange Houses and Banks) to pay Indian utility bills of over 20,000 billers in mo...
Federal Bank enables Utility Bill Payment Services in its Cross Border Remittance Platform.
Asset quality broadly stable; earnings outlook getting strengthened ? FB reported a PAT of ~INR3.7b in 1QFY22, led by strong other income (recovery from a written-off account and treasury gains of INR2.6b). It prudently deployed these gains towards provisions, which stood elevated at INR6.4b (63% YoY increase),to further strengthen its Balance Sheet. ? The bank posted a moderation in business growth, with loans across most segments declining sequentially. Deposit growth was muted, while...
Buy Federal Bank Ltd For Target Rs.110 - Motilal Oswal Financial Services
Federal Bank is currently trading at Rs. 124.05, up by 1.55 points or 1.27% from its previous closing of Rs. 122.50 on the BSE. The scrip opened at Rs. 123.90 and has touched a high and low of Rs. 124.60 and Rs. 123.40 respectively. So far 175916 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 129.70 on 05-Sep-2022 and a 52 week low of Rs. 78.20 on 21-Sep-2021. Last one week high and low of the scrip stood at Rs...
Federal Bank trades higher on the BSE
Federal Bank was ranked 63 on the Best WorkplacesTM in Asia 2022 and becomes the only Indian bank to be listed by Great Place to Work®, the global authority on workplace culture. The list is based on over 1 million survey responses across Asia and the Middle East, representing the experience of more than 4.7 million employees in the region. This recognition is based on confidential survey data assessing employee experiences of trust, innovation, company values and leadership. Companies...
Federal Bank becomes the only Indian Bank amongst the Best WorkplacesTM in Asia2022 by Great Place to Work
The stocks in Rakesh Jhunjhunwala's portfolio which saw a downfall on Tuesday, has rebounded on Wednesday, but few stocks still trading in red. Stocks such as CRISIL trading 2.03 per cent down, Federal Bank was down 1.09 per cent, Karur Vyasa Bank was down 0.92 per cent, Escorts Kubota was down 0.39 per cent during the afternoon trade. However, the stocks which was sharply down on Tuesday, the first trading day after Jhunjhunwala's death, are trading up today. Stocks such as ...
Few stocks in Jhunjhunwala portfolio still trading down
Federal Bank becomes the First Bank to list its Payment Gateway platform on the TIN 2.0 platform of Income Tax Department. The TIN 2.0 platform went live on 1 st July 2022 and the “Payment Gateway” has been enabled, providing one more payment option to taxpayers, who can now make their payments with ease, using modes such as Credit/Debit Card, UPI, NEFT/RTGS and Internet Banking. “Federal Bank is actively using digital as a key enabler of superior experience and transacti...
Federal Bank becomes the First Bank to list its Payment Gateway on the new Tax platform
Federal Bank introduces special rates for its NRE Term Deposit. These special rates are available between 28th July 2022 and 4th August 2022. The rates are applicable for NR term deposits opened for a period of 15 months. The new rates offered are 80 bps above the existing rates. Below given is the Bank’s special offer: It is an exciting opportunity for non- residents to invest their funds as the interest earned is exempt from Income Tax and loan can be availed up to 90% of th...
Federal Bank offers special rates for NR Term Deposits
Ninety FirstAnnual General Meeting of shareholders of Federal Bank was conducted over video conferencing today. The meeting was presided over by Bank’s ChairmanMr.CBalagopaland joined by other Directors, Shareholders, Senior Executives,representatives of Statutory Auditors and Secretarial Auditors of the Bank. In the meeting, approval of shareholders was sought for adopting audited financial statements of FY 2021-22. Approval of12 other resolutions like declaration of dividend of 90%...
91 st Annual General Meeting of Federal Bank Conducted
Moderate sequential rise in slippages on account of restructured book Result Highlights * Asset quality: Gross slippages amounted to Rs 4.63bn (annualized slippage ratio of 1.2%) and recoveries and upgrades were healthy at Rs 2.81bn * Margin picture: NIM at 3.22% was up 6 bps QoQ on account of a 2bps QoQ increase in yield on advances and an -8 bps QoQ fall in cost of deposits * Asset growth: Advances grew 4.8%/16.4% QoQ/YoY driven sequentially by commercial banking (CoB) and corpo...
Buy Federal Bank Ltd For Target Rs.142 - Yes Securities
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