Federal Bank announced the audited financial results for the quarter and year ended 31st March 2017 with total business growth by 25% and net profit by 74.66%.
The 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 and Corporate Advances registers a growth of 38.20%.
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.
The Bank posted an Operating Profit of Rs. 1924.93 Cr. and a Net Profit of Rs. 830.79 Cr. for the year ended 31 st March 2017. 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.
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%.
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 31 st March 2017.
The Bank has 1252 branches and 1667 ATMs as on 31 st 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).
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