Kochi: Federal Bank has reported a 10.85% rise in net profit Quarter on Quarter (QoQ) Rs.955.26 crore, though this has also meant a 9.6% Year on Year (YoY) decline in net profit from Rs.1,057 crore a year ago. This is despite revenues rises 6.84% YoY, even as the company’s Gross Non Performing Assets (NPAs) have declined marginally to 1.83% from last quarter.
The Kerala-based bank’s market cap has also increased by 11.93% YoY, from Rs.31,108 crore to Rs.34,819 crore. The bank’s income from fees has risen to an all-time high of Rs.886 crore, rising 13% year-on-year, reflecting its continued income from non-interest revenues.
“Having spent over a year in this role, I have a deep sense of conviction about where the Bank stands today and the direction we’re headed. Over the past few quarters, we’ve undertaken several strategic reorientations to strengthen our foundation and build for the future — and the results are beginning to show.
Our CASA franchise continues to demonstrate sustained and meaningful growth, reflecting the trust of our customers and the consistency of our team’s execution. We’re also broadening our asset mix thoughtfully, increasing the share of our mid-yield portfolio in a measured and disciplined way. At the same time, our fee income has seen strong, double-digit sequential growth, underscoring the breadth and resilience of our earnings.
Our asset quality remains solid, supported by prudent risk management and a balanced approach to growth. As we look ahead, we’re shaping an organisation that’s agile in its thinking, disciplined in its actions, and firmly anchored in the stability and values that define Federal Bank,” Mr. KVS Manian, Managing Director & CEO said in a press release.
