Page 4 - Federal Bank

Amicus Capital invests Rs 125 cr in Equirus; Federal Bank partially exits

Private equity firm Amicus Capital on Friday announced that it has invested Rs 125 crore in Equirus Group, a late Rakesh Jhunjunwala-backed financial services firm, for an undisclosed stake. The investment is a combination of primary and secondary purchase of sales, a statement said, identifying private sector lender Federal Bank as having taken a partial exit. The new investors include Kishor Patil, Ajai Kumar, N Sivaraman, Yagnesh Dosshi, Krishna Jha, Anand Archak, Abhishek Goyal, Badri Mohapatra, Shankar Valiya and Deepak Singhal, it said. Equirus, which got Jhunjunwala's backing right at the time of inception, offers investment banking, insurance broking and asset management services. The money raised will be deployed for capital expansion, technology investments, strategic guidance, access to new networks, talent acquisition, operational improvements, and risk management, the statement said. "The Equirus platform offers life cycle solutions across the growth and wealth-creati

Deposits, pricing of loans may be key tasks for new Federal Bank CEO

Improving pricing power key for better RoA

No card, phone, or cash needed! This tech lets you pay with just your face

SmilePay replaces the need for cash, cards, or mobile devices, instead relying on advanced facial recognition software

Asia stocks firm, dollar sags amid low US treasury yields on Fed cut bets

Mainland Chinese blue chips added 0.4%, although Hong Kong's Hang Seng slipped 0.3%

Federal Bank Q1 results: Net profit increases 18% to Rs 1,010 crore

Net interest income (NII) improved 19 per cent year-on-year to Rs 1,919 crore while other income increased by 25 per cent to Rs 915 crore

Federal Bank Q1 results: Profit rises 17% to Rs 1,027 cr on loan recoveries

South India-based Federal Bank on Wednesday reported a 16.74 per cent growth in consolidated net profit to Rs 1,027.51 crore for the June quarter, helped by higher recoveries from written-off accounts. The private sector lender's net profit grew to Rs 1,009.53 crore on a standalone basis, up from Rs 853.74 crore in the year-ago period. Its core net interest income moved up 19 per cent to Rs 2,292 crore during the reporting quarter on the back of a nearly 20 per cent growth in advances, while margin moderated to 3.16 per cent from 3.21 per cent in the preceding March quarter. Federal Bank Managing Director and Chief Executive Shyram Srinivasan, who will be demitting office in September after being at the helm for 15 years, told reporters that the bank is aiming to keep the net interest margin (NIM) between 3.15 and 3.25 per cent. The bank is aiming to keep all credit costs at 0.30-0.35 per cent, he said, adding that the bank is not focused on looking at the NIM number in isolation,

Federal Bank rises 5% as RBI approves KVS Manian's appointment as MD & CEO

RBI has approved the appointment of Krishnan Venkat Subramanian as the Managing Director & Chief Executive Officer of the Bank, for a period of 3 years, with effect from September 23, 2024

Reserve Bank of India approves KVS Manian as CEO of Federal Bank

Federal Bank had applied for the approval to the regulator on May 6, 2024

Federal Bank shares hit new peak after reporting robust growth in Q1FY25

Federal Bank reported robust growth in its financial metrics for the first quarter of fiscal year 2024-25 (FY25). The bank's advances surged by 20 per cent, reaching Rs 2.66 trillion

Federal Bank Q1 results; Advances up 20%, total deposits grow 19.6%

Retail credit book grows 25%, according to internal classification of the bank

Federal Bank stock gains 4% amid speculations over new MD and CEO

Federal Bank's stock price surged up to 4.1 per cent at Rs 174.60 per share on the BSE in Wednesday's intraday deals

Nifty Bank hits 50,000 mark for the first time ever; Check key reason

Surpassing the 50,000-mark for the very first time, the index's ascent can also be attributed to robust Q4 GDP figures, and S&P recent upgradation of India's rating to positive

Buy & Sell: Top three picks by Anand Rathi for May 28; check target prices

Olectra Greentech stock is now comfortably maintaining its position above this trendline, indicating a strong upward movement.

Indian Hotels, Power Grid, Federal Bank: Top 3 technical picks for May 14

There is a bullish butterfly pattern seen on hourly scale so based on these signals, we advise investors / traders to "go long" in Indian Hotels Company within the price range of Rs 545-555 per share

Federal Bank, BHEL are the top trading picks by Sharekhan for May 14

Federal bank has been in a medium-term uptrend. The recent pullback towards the zone of Rs 154 - 156 was brought into and the stock has been witnessing buying interest from that crucial support zone

Federal Bank Q4 results: Net profit flat at Rs 906 cr, total income up 23%

Federal Bank on Thursday reported a flat net profit of Rs 906 crore in the March 2024 quarter. The bank had a net profit of Rs 903 crore in the fourth quarter of the 2022-23 fiscal. Its total income rose 23.42 per cent to Rs 6,732 crore in the January-March period. The net interest income grew 15 per cent to Rs 2,195 crore. For the full 2023-24 fiscal, Federal Bank's net profit grew 24 per cent to Rs 3,721 crore. In 2022-23, the bank had a net profit of about Rs 3,011 crore. The bank's board also recommended a dividend of 60 per cent per equity share having a face value of Rs 2 for the year ended March 2024. Federal Bank Managing Director & CEO Shyam Srinivasan said, "With a 10 per cent increase in our footprint, our branches now dot the map, across the length and breadth of India. The physical distribution is buttressed with significant investments in technology and digital capabilities, helping us serve clients in over 15,000 pin codes." Shares of Federal Bank were trading at R

Federal Bank hits record high amid report KVS Manian may join as MD & CEO

Federal Bank news: According to reports, KVS Manian could replace Federal Bank's MD and CEO Shyam Srinivasan, whose term ends in the last week of September 2024

Fed to cut US rates 'at some point, but no hurry', says Loretta Mester

"At some point, as we get more confidence, we will start to normalize policy back to a less restrictive stance, but we don't have to do that in a hurry," Mester said

From Federal Bank to L&T Finance, cos see robust disbursements in Q4 FY24

During the quarter under review, the CASA ratio of the lenders continued to remain under pressure

RBI bars Federal, South Indian Bank from issuing co-branded credit cards

South Indian Bank has one co-branded credit card in partnership with the State Bank of India (SBI), available in two variants: SimplySAVE and Platinum