Federal Bank net up by 25.73% y-o-y

The total income for the fiscal increased by 38.33 per cent from Rs 2,104.04 crore to Rs 2,910.43 crore, supported by a 22.85 per cent growth in total business, Federal Bank Ltd Chairman M Venugopalan told reporters here.     
During fiscal 2007-08, the total business of the bank increased to Rs 44,819 crore from Rs 36,483 crore. "The bank has once again exhibited consistent growth in profitability and in net interest income during the last fiscal," he said.     
The net interest income increased by 21.15 per cent to Rs 868.01 crore. The net interest margin (NIM) of the bank increased from 3.47 per cent as on March 31, 2007 to 3.49 per cent as on March 31, 2008, he said.     

Pointing out that the balance sheet witnessed further strengthening during the last financial year with consistent improvement in asset quality and profitability ratio, he said the ratio of net NPA, return on assets, and capital adequacy are at 0.23 per cent, 1.34 per cent and 22.46 per cent respectively.     

The Earnings Per Share and Book value per share improved to Rs 32.42 and Rs 229.53 respectively as on March 2008 from Rs 34.20 and Rs 175.48 as on March 2007. The Board of Directors of the bank, which met here, had also approved a dividend of 40 per cent, he said.