Federal Bank quarterly profit highest-ever

Kerala-headquartered private lender Federal Bank has recorded its highest ever quarterly net profit of Rs 954 crore and net interest income of Rs 2056 crore for the quarter ended September, demonstrating a strong growth and robust asset quality.

The bank's total business touched Rs 4,25,685 crore. The bank's total deposits increased by 23.12% and net advances increased by 19.58%, the bank said in a press release.

Bank's MD & CEO Shyam Srinivasan, commenting on the bank's performance, said: “The Q2 results are a sigma of many of our initiatives coming together well and has helped us deliver our highest ever profits. Some of the marquee investments we raised in Q2 are a true testimony to our governance, social and environmental commitment standards. We are pleased to deliver on our commitments made to them and do stay determined to make continued progress on all our chosen areas in pursuit of our vision of being the Most Admired Bank.”


The bank registered Operating Profit of Rs. 1324.45 crore which recorded a growth of 9.26% on a year-on-year basis.
The networth of the bank increased from Rs. 19617.82 crore to Rs. 26032.07 crore as at the end of September quarter.
The Bank has 1389 branches and 1935 ATMs/ Recyclers as on September 30, the bank added in its press release.