Federal Bank share rose nearly 6% today after the lender reported its highest ever net profit in Q4. Federal Bank stock touched an intraday high of Rs 86.4 rising 5.82% on BSE. Market cap of the bank rose to Rs 16,968 crore on BSE.
The stock has gained 6.34% in the last 2 days. Federal Bank share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. Federal Bank share has risen 114.38% in one year and gained 27.44% since the beginning of this year.
Total 33.66 lakh shares changed hands amounting to turnover of Rs 28.74 crore on BSE. The private sector lender reported a net profit of Rs 448 crore, 58.60 per cent higher than that in the corresponding period of previous year.
Net interest income (NII) rose 16.80 per cent to Rs 1,420 crore, while net interest margins (NIM) rose 19 basis points to 3.23 per cent. Federal Bank's gross non-performing assets (NPA) stood at Rs 4,602 crore as of March 31, while net NPAs stood at Rs 1,569 crore. In percentage terms, gross NPAs stood at 3.41 per cent of total advances, while net NPA was at 1.19 per cent. The bank's provision coverage ratio stood at 65.14 per cent as of March 31, 2021.
"Some of the segments such as gold loans and CASA continue to shine for us with gold loans registering a staggering growth of 70.05 per cent. The asset quality held up well and net NPA of 1.19 per cent placed the bank amongst the best in the industry. The provision coverage ratio was maintained along guided lines at 65.14 per cent," Federal Bank MD and CEO Shyam Srinivasan said.
For the fiscal ended March 2021, the private sector lender reported a 3.08 per cent increase in net profit at Rs 1,590 crore. Net interest income (NII) grew 19.03 per cent to Rs 5,534 crore, while net interest margin (NIM) stood at 3.16 per cent.
While total deposits grew 13.37 per cent to Rs 1.72 lakh crore in FY21, current account and saving account (CASA) deposits rose 25.66 per cent to Rs 58,370 crore.
The board also declared final dividend of Rs 0.70 per equity share.
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