Federal Bank Q4 PAT rises 13% YoY to Rs 541 cr

The private lender's standalone net profit rose 13.13% to Rs 540.54 crore on 3.04% increase in total income to Rs 3,948.24 crore in Q4 March 2022 over Q4 March 2021.

The bank's operating profit fell 11.04% to Rs 798.20 crore in Q4 March 2022 over Q4 March 2021. Net Interest Income jumped 7.38% YoY to Rs 1525.21 crore in Q4 March 2022.

The bank's provisions and contingencies (excluding tax provisions) slumped 68.95% to Rs 75.24 crore in Q4 FY22 over Q4 FY21. The provision coverage ratio stood at 65.54% as on 31 March 2022.

The bank's gross non-performing assets (NPAs) stood at Rs 4136.74 crore as on 31 March 2022 as against Rs 4401.26 crore as on 31 December 2021 and Rs 4602.39 crore as on 31 March 2021.

The ratio of gross NPAs to gross advances stood at 2.8% as on 31 March 2022 as against 3.06% as on 31 December 2021 and 3.41% as on 31 March 2021.

The ratio of net NPAs to net advances stood at 0.96% as on 31 March 2022 as against 1.05% as on 31 December 2021 and 1.19% as on 31 March 2021.

On a standalone basis, the bank's net profit rose 18.83% to Rs 1,889.82 crore on 0.21% increase in total income to Rs 15749.85 crore in the year ended March 2022 over the year ended March 2021.

Shyam Srinivasan, managing director & CEO, Federal Bank said, "Notwithstanding the turbulent times outside, we have delivered an encouraging performance for FY22. Despite the absorption of a large one-off expense, the ROA and ROE have met the guided levels of 1.03% and 11.93% respectively. The Bank also registered its highest ever Net Profit for a quarter @ ₹ 541 Cr. Asset quality of the Bank has been resilient and demonstrates the underwriting, monitoring and collection capabilities of the Bank. Credit cost for FY22 was at a new low at 45 bps. We have played the turbulent times reasonably well and are now on the path to sustained growth momentum with various enablers in place."

The bank's gross advances reached Rs 1,47,639.45 Cr as on 31st March 2022 from Rs 1,34,876.71 crore as on 31st March 2021, registering a growth of 9.46%.

Deposits recorded a growth of 5.25% to reach Rs 1,81,700.57 crore as on 31st March 2022 from Rs 1,72,644.48 crore as on 31st March 2021. The CASA deposits reached Rs 6,71,21.21 crore as on 31st March 2022, up 14.99% YoY. CASA ratio stands at 36.94%.

Federal Bank has 1282 branches, 1885 ATMs/recyclers as on 31st March 2022. The Bank also has its Representative Offices at Abu Dhabi and Dubai and an IFSC Banking Unit (IBU) in Gujarat International Finance Tec-City (GIFT City).

Shares of Federal Bank tumbled 4.14% to Rs 90.20 on the BSE.

Powered by Capital Market - Live News