'Federal Bank has reported strong 18%
growth in net profit at Rs 1009.53 crore for the quarter ended June 2024
(Q1FY2025). The bank has posted healthy 19% growth in net interest income
(NII), while the core fee income of the bank also improved 20% in Q1FY2025. The
Net Interest Margin (NIM) of the bank eased only marginally to 3.16% in
Q1FY2025 compared to 3.20% in the corresponding quarter of previous year.
On business front, the
bank as has posted 20% growth in business with strong 19% surge in loan book.
The asset quality of the bank was stable in Q1FY2025. Bank has reduced the credit
to deposit ratio to 84.2% at end June 2024 from 84.4% at end June 2023.
However, the CASA ratio of the bank has declined to 29.3% at end June 2024 from
31.8% at end June 2023.
Asset quality stable: The bank has maintained
stable asset quality in Q1FY2025.
The fresh slippages of
loans stood at Rs 424 crore in Q1FY2025 c...
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(18-Nov-2024)
Bharat Forge
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