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Federal profit up 18%

To Rs 167.3 crore in the April-June quarter aided by higher other income growth

Federal Bank net profit up 18%

Private sector lender Federal Bank has reported an 18 per cent growth in net profit to Rs 167.3 crore  in the April-June quarter, aided by other income growth. Net interest income, difference between the revenue generated from a bank’s assets (loans) and the expenses associated with paying out its liabilities (customer deposits), improved 14.5 per cent to Rs 692 crore. Other income that included income from fees, commission, grew 22.5 per cent to Rs 237.5 crore in the quarter ended June as compared to Rs 194 crore in the corresponding quarter last year. The strong gains ...