Economy

Federal Bank delivers highest ever quarterly net profit at ₹ 541 Cr

Federal Bank announced its audited financial results for the quarter and year ended 31st March 2022 today.
Federal Bank announced its audited financial results for the quarter and year ended 31st March 2022 today.

Federal Bank announced its audited financial results for the quarter and year ended 31st March 2022 today.
Highlights

Working

  • OPERATING REVIEW
  • Total Business
  • The total business of the Bank reached ₹ 3,29,340.02 Cr as on 31st March 2022 from ₹ 3,07,521.19 Cr as on 31st March 2021, registering a growth of 7.10%.
  • Credit Growth
  • Gross Advances reached ₹ 1,47,639.45 Cr as on 31st March 2022 from ₹ 1,34,876.71 Cr as on 31st March 2021 registering a growth of 9.46%. Agri Advances registered a growth of 19.93% to reach ₹ 19,238.00 Cr from ₹ 16,041.43 Cr. Business Banking Advances registered a growth of 15.00% to reach ₹ 13,869.00 Cr. Commercial Banking Advances registered a growth of 12.00% to reach ₹ 14,806.00 Cr.
  • Deposit Growth
  • Deposits recorded a growth of 5.25% to reach ₹ 1,81,700.57 Cr as on 31st March 2022 from ₹ 1,72,644.48 Cr as on 31st March 2021. The CASA deposits reached ₹ 67,121.21 Cr as on 31st March 2022. CASA Ratio stands at 36.94%. Resident Savings Bank deposit registered a growth of 16.04% to reach ₹ 29,953.44 Cr as on 31st March 2022.
  • Operating Profit & Net Profit
  • The Bank delivered an annual operating profit of ₹ 3,757.85 Cr as on 31st March 2022. The annual net profit is at ₹ 1,889.82 Cr as on 31st March 2022 up from ₹ 1,590.30 Cr as on 31st March 2021.
  • Income & Margins
  • Annual Net Interest Income increased from ₹ 5,533.71 Cr to ₹ 5,961.96 Cr registering a growth of 7.74% as on 31st March 2022. Net Interest Margin stood at 3.20 % for FY22. Net total income registered a growth of 7.46% to reach Rs. 8,051.05 Cr.
  • Asset Quality
  • The Gross NPA of the Bank as on 31st March 2022 stood at ₹ 4,136.74 Cr. Gross NPA as a percentage to Gross Advances is 2.80% as on 31st March 2022. The Net NPA stood at ₹ 1,392.62 Cr and Net NPA percentage is at 0.96% as on 31st March 2022. The Provision Coverage Ratio stood at 65.54% as on 31st March 2022.
  • Capital Adequacy & Net worth
  • The Capital Adequacy Ratio (CRAR) of the Bank, computed as per Basel III guidelines, stood at 15.77% as on 31st March 2022, up by 115 bps YoY. The Net Worth of the Bank was at ₹ 18660. 98Cr as on 31st March 2022.
  • Dividend
  • The Board of directors at its meeting held today has recommended a dividend of 90% per equity share having face value of 2 for the year ended 31st March 2022. The dividend will be paid after the approval of shareholders at the Annual General Meeting.
  • Awards & Accolades
  • Won Finnoviti Award instituted by Banking Frontiers for ‘Fed-E-Studio’, the self-service banking kiosk for customers
  • Won the award for Best use of Cloud in Banking at the 3rd Annual BFSI Technology Excellence Awards 2022
  • Winner of ‘Best Fintech Adoption’, runner up for ‘Best Technology Bank of the Year’, and special mention award for ‘Best Cloud Adoption’ at IBA’s 17th Banking Annual Technology Awards
  • Winner of Finacle Client Innovation Awards in the mid-size bank segment in 5 categories namely Corporate Banking Digitization (Automatic Opening of Accounts through BPM), Customer Journey Reimagination (Fed-e-Point self-service customer portal), Modern Technologies-led Innovation (AI based Digital Lending Platform), Process Innovation (Be Your Own Master – Top Up Demand Loan) and Product Innovation (Cross Border Remittance Automation and Insta-Demat). The Bank also emerged as a runner up in the category Ecosystem-led Innovation (Neo-Banking)
  • Recognized as the ‘Best mid-sized Bank’ in the 26th ‘Business Today – KPMG Annual Survey
  • Recognized as a Great Place to Work in a study conducted by the Great Place to Work® Institute for the second time in a row

Major Partnership
Partnered with Mashreq Bank to facilitate NR account opening for Indians in UAE, making it first of its kind
Partnered with BSE to promote listing of SMEs & Start-Ups
Partnered with Central Board of Indirect Taxes and Customs to help customers pay their taxes through various channels of the Bank

Footprint
The Bank has 1282 branches, 1885 ATMs/ Recyclers as on 31st March 2022. The Bank also has its Representative Offices at Abu Dhabi and Dubai and an IFSC Banking Unit (IBU) in Gujarat International Finance Tec-City (GIFT City).

Q4FY22 Vs Q4FY21

  • Resident Savings Bank deposit registered a growth of 16.04% to reach ₹ 29,953.44 Cr
  • Total Deposits grew from ₹ 1,72,644.48 Cr to ₹ 1,81,700.57 Cr registering a growth of 5.25%
  • CASA recorded a growth of 14.99% to reach ₹ 67,121.21 Cr
  • NRE deposits reached ₹ 67,416.25 Cr from ₹ 63,958.84 Cr registering a growth of 5.41%
  • CV/CE advances grew 40.11% to reach Rs. 1275.00 Cr
  • Gross Advances increased from ₹ 1,34,876.71 Cr to ₹ 1,47,639.45 Cr registering a growth of 9.46%
  • Business Banking Advances and Commercial Banking Advances grew 15.00% and 12% to reach ₹ 13,869.00 Cr and ₹ 14,806.00 Cr respectively
  • Agri advances reached ₹ 19,238.00 Cr from ₹ 16,041.43 Cr registering a growth of 19.93 %
  • Major Financial Indicators (Standalone Nos.)
This press release is drafted by Prittle Prattle News
Must read – Mothers
Follow Us: Facebook Instagram | Twitter YouTube | LinkedIn Pinterest Tumblr
Skip to toolbar