'Federal Bank conducted a conference call on 28 October 2024 to discuss its financial results for the quarter ended September 2024. KVS Manian, MD&CEO of the bank addressed the call:
Highlights:
The bank has improved a business level to Rs 4.99 lakh crore, recording growth of 17% yoy, out of which last Rs 1 crore of business has been generated in the last four quarters.
The bank has recorded the highest ever net profit, operating profit and the net interest income in the quarter ended September 2024.
The deposits increased 15.56% driven by CASA deposits growth. Advances moved up 19.45% end September 2024.
RoE has improved to 1.28% and ROE to 13.65% in Q2FY2025.
The bank has further improved the asset quality with the reduction in the GNPA ratio to 2.09% and net NPA ratio to 0.57% end September 2024.
The bank has further improved provision coverage ratio to 71.92% in Q2FY2025.
The bank has renewed focus on Casa and...
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