Federal Bank - Q3FY14 Result Update - Microsec

Federal Bank Ltd. announced its Q3FY14 result on 17th January 2014.

The Bank's total income marginally increased by 1.46% QoQ and 0.09% YoY to INR701.82 crores. It is mainly, because of 23.35% YoY de-growth in its Other Income. Whereas, Profit After Tax (PAT) increased by 1.91% QoQ and 9.18% YoY to INR230.13 crores. During the quarter, the Bank has reduced its provisions by 33.61% QoQ and 90.20% YoY to INR7.29 crores, which has helped it to improve its bottom line.

The Bank's loans book and total deposits expanded by 5.43% and 11.88% YoY to INR41640 and INR57737 crores respectively. On the asset quality front, the Bank has improved its Gross NPA and Net NPA by 56 and 12bps QoQ to 2.83% and 0.86% respectively. Moreover, the Bank's low cost deposits base (CASA ratio) improved by 116bps YoY to 30.36%. However, its Net Interest Margin (NIM) decreased by 6bps QoQ and 23bps YoY to 3.24%, The Bank is well capitalized to support its growth trajectory with 14.80% of its Basel III Capital Adequacy Ratio (CAR), which is 580bps higher than the regulator's stipulated norm.

Source : Equity Bulls

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