1. Federal Bank Q1 net grows 18% to Rs 167 crore

Federal Bank Q1 net grows 18% to Rs 167 crore

Net NPAs were at 1.68 per cent of net loans at the end of June, up from 0.98 per cent in the previous year. Provisions went up to Rs 168.48 crore as of June 2016 as against Rs 153.10 crore at the end of June 2015.

By: | New Delhi | Published: July 22, 2016 3:59 PM
Federal Bank- PTI-L The bank kept its grip on asset quality as it saw only a marginal uptick in its bad loan profile, with gross non-performing assets (NPAs) rising to 2.92 per cent of gross advances as of June 2016 against 2.59 per cent a year ago. (Source: Federal Bank)

Private lender Federal Bank today reported a rise of 18.3 per cent in net profit at Rs 167.3 crore during the June quarter of the current fiscal.

The bank had reported a net profit of Rs 141.4 crore in April-June of 2015-16.
The total earnings of the bank increased to Rs 2,250.8 crore for the quarter under review, as against Rs 2,107.09 crore a year before, the bank said in a regulatory filing.

The bank kept its grip on asset quality as it saw only a marginal uptick in its bad loan profile, with gross non-performing assets (NPAs) rising to 2.92 per cent of gross advances as of June 2016 against 2.59 per cent a year ago.

Net NPAs were at 1.68 per cent of net loans at the end of June, up from 0.98 per cent in the previous year.
Provisions went up to Rs 168.48 crore as of June 2016 as against Rs 153.10 crore at the end of June 2015.

The stock traded 2.87 per cent higher at Rs 62.75 on BSE in the afternoon session.

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