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.)
