Federal Bank Registers 67% Growth in Net Profit; Delivers All Time High of Rs 903 Cr

by Psu Connect
Date: 06-05-23

The Board of directors at its meeting held today has recommended a dividend of 50% per equity share having face value of Rs 2 for the year ended 31st March 2023.

Federal Bank Registers 67% Growth in Net Profit; Delivers All Time High of Rs 903 Cr

New Delhi: Federal Bank announced its audited financial results for the quarter and year ended 31st March 2023 on May 5, 2023.

Highlights

• Net Profit at Rs 903 Cr, grew by 67% YoY
• Highest ever Operating Profit at 1335 Cr, grew by 67% YoY
• ROA for Q4 at 1.45% and ROE at 17.48%
• GNPA and NNPA brought down to 2.36% and 0.69% respectively
• Total Advances increased by 20.14%
• Total Deposits grew 17% YoY
• The Capital Adequacy Ratio (CRAR) of the Bank stood at 14.81%

Commenting on the results and financial performance, Mr. Shyam Srinivasan, Managing Director & CEO, Federal Bank said, “We have delivered industry leading outcomes with Net profit at Rs 903 Cr QoQ and ROE at an all-time high at 17.48%. The consistent performance exhibited throughout the year has yielded in net annual profits of Rs 3010.59 Cr, while maintaining benign asset quality across the segments. This very strong performance is a testimony to the dedicated efforts of the team and the trust of our customers. It’s noteworthy that our market share gains across product categories is gathering momentum quarters.”

The Board of directors at its meeting held today has recommended a dividend of 50% per equity share having face value of Rs 2 for the year ended 31st March 2023. The dividend will be paid after the approval of shareholders at the Annual General Meeting.

The bank's total business of the Bank reached Rs3,87,832.93 Cr as on 31st March 2023 from Rs 3,26,628.92 Cr as on 31st March 2022, registering a growth of 18.74%.