Federal Bank announced the
Financial Results for the quarter ended 30th September 2024. The key
highlights of the results on a Y-o-Y basis are as follows:
Ø
Total
Business of the Bank reached Rs. 499418.83 Cr
Ø Net Profit highest ever at Rs.1056.69 Cr, grew 10.79 %
Ø Operating Profit highest ever at Rs. 1565.36 Cr
Ø ROA for Q2 stood at 1.28
% and ROE stood at 13.65 %
Ø GNPA and NNPA brought
down to 2.09% and 0.57 % respectively
Ø Total Deposits increased by 15.56 %
Ø Total Net Advances increased by 19.45 %
Ø Net Interest Income at Rs. 2367.23 Cr, grew by 15.11 %
KVS Manian, MD
& CEO of Federal Bank, stated, "Q2 has been robust for the Bank, driven by strong
momentum across diverse operational verticals. This is clearly reflected in
our consecutive surpassing of the 1000 Crore net profit milestone for two
quarters in a row. Our deposits, now upgraded to AAA by CRISIL, signify a
sturdy core of the franchise. Business momentum across verticals has been
strong and inclusive, and asset quality improvements have been notable. We
are committed to sustaining and building on this strong momentum to achieve
continued success for the Bank.”
WORKING RESULTS AT A GLANCE (Rs.in Cr)
|
Particulars |
Q2 |
Q2 |
% y-o-y growth |
|
|
2024-25 |
2023-24 |
|
|
Net Profit |
1056.69 |
953.82 |
é10.79% |
|
Total Income |
7541.23 |
6185.70 |
é21.91% |
|
Operating Profit |
1565.36 |
1324.45 |
é18.19% |
|
Net Interest Income |
2367.23 |
2056.42 |
é15.11% |
|
Total Business |
499418.83 |
425685.12 |
é17.32% |
Strong Growth – Resilient Balance
Sheet Performance
Total Business of the Bank
reached Rs. 499418.83 Cr
registering a growth of 17.32 % as on 30th September 2024.
Total
Deposits increased from Rs. 232868.43
Cr as on 30th September
2023 to Rs. 269106.59 Cr as on 30th September 2024.
On the Asset side, Net advances
increased from Rs 192816.69 Cr as on 30th September 2023 to Rs. 230312.24 Cr on 30th
September 2024. Retail Advances grew by 17.24 % to reach Rs.
72701.75 Cr. Business
Banking advances grew by 19.26% to reach Rs.19121.18 Cr. Commercial Banking
grew by 24.34 % to Rs. 24493.35 Cr. Corporate Advances registered a growth of 10.48
% to reach Rs. 77953.84 Cr. The CV/ CE advances grew by 43.83 % to reach Rs.3932.30 Cr.
Highest Ever
Operating Profit and Net Profit
The Bank
registered Operating Profit of Rs. 1565.36 Cr and Net Profit of Rs. 1056.69 Cr
for the quarter ended 30th September 2024. Operating profit recorded
a growth of 18.19 % on a year-on-year basis. With this, the Bank crossed the Rs
1000 Crore Net Profit for the second consecutive quarter with Rs 1010 Cr in the
previous quarter.
Remarkable Income Parameters
Net
Interest Income grew 15.11 % from Rs. 2056.42 Cr to Rs. 2367.23 Cr as on 30th
September 2024. Total income of the Bank grew 21.91 % to reach Rs. 7541.23 Cr.
Earnings per share (EPS) annualized is Rs 17.11.
Key Ratios
ROA &
ROE of the Bank for the quarter stood at 1.28 % and 13.65 % respectively.
Robust Asset Quality
Gross NPA of the Bank as at the
end of Q2 FY25 stood at Rs. 4884.49 Cr, which as a percentage to Gross Advances
stood at 2.09 %. The Net
NPA and Net NPA as a percentage to Net Advances as on 30th September
2024 stood at Rs. 1322.29 Cr and 0.57 % respectively. Provision Coverage Ratio
excluding Technical Write Off was 71.82 %.
Net Worth & Capital Adequacy
Net worth of the Bank increased
from Rs. 26032.07 Cr to Rs. 31108.20 Cr, as on 30th September 2024. Capital
Adequacy Ratio (CRAR) of the Bank, computed as per Basel III guidelines stood
at 15.20 % as at the end of the quarter.
Footprint
The Bank
has 1533 banking outlets and 2052 ATMs and Cash Recyclers as on 30th
September 2024.
MAJOR FINANCIAL INDICATORS
(Standalone Nos) (Rs.
in Cr)
|
Business Figures |
As on 30.09.2024 |
As on 30.09.2023 |
Growth (%) |
|
Total Deposits |
269106.59 |
232868.43 |
é15.56 % |
|
Net Advances |
230312.24 |
192816.69 |
é19.45 % |
|
CB Advances |
24493.35 |
19699.01 |
é24.34 % |
|
Retail Advances |
72701.75 |
62009.00 |
é17.24 % |
|
Corporate Advances |
77953.84 |
70558.63 |
é10.48% |
|
Business Banking Advances |
19121.18 |
16032.55 |
é19.26 % |
|
Agri Advances |
32487.00 |
25106.76 |
é29.40 % |
|
Capital |
|
|
|
|
Equity Capital |
490.45 |
470.32 |
|
|
Net Worth |
31108.20 |
26032.07 |
é19.50 % |
|
Capital Adequacy (%) |
15.20 |
15.50 |
|
|
Tier I (%) |
13.82 |
13.79 |
|
|
Tier II (%) |
1.38 |
1.71 |
|
M V S Murthy
Chief Marketing Officer
E-mail: mvsmurthy@federalbank.co.in
A presentation for investors is being placed
separately on our Bank's website: https://www.federalbank.co.in/financial-result
For further information,
please contact:
Mr. Venkatraman
Venkateswaran
Group President &
CFO
E-mail: venkatraman@federalbank.co.in
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