17th October 2023, New Delhi: Federal Bank announced the Financial Results for the quarter ended 30th September 2023. The key highlights of the results on a Y-o-Y basis are as follows:

Total Business of the Bank reached Rs 425685.12 Cr
Net Profit highest ever @ Rs 953.82 Cr, grew 35.54 %
Operating Profit highest ever @ Rs 1324.45 Cr
ROA for Q2 stood at 1.36% and ROE stood at 15.72%
GNPA and NNPA brought down to 2.26% and 0.64% respectively
Total Deposits increased by 23.12%
Total Net Advances increased by 19.58%
Highest ever Net Interest Income at ₹ 2056.42 Cr, grew by 16.72%

WORKING RESULTS AT A GLANCE

(Rs.in Cr)

Particulars	Q2	Q2	% y-o-y growth
	2023-24	2022-23	% y-o-y growth
Net Profit	953.82	703.71	é35.54%
Total Income	6185.70	4630.30	é33.59%
Operating Profit	1324.45	1212.24	é9.26%
Net Interest Income	2056.42	1761.83	é16.72%
Total Business	425685.12	350386.03	é21.49%

Strong Growth – Resilient Balance Sheet Performance

Total Business of the Bank reached Rs. 425685.12Cr registering a growth of 21.49% as on 30^th

September 2023.

Total Deposits increased from Rs.189145.71 Cr as on 30^th September 2022 to Rs. 232868.43 Cr as on 30^th September 2023.

On the Asset side, Net advances increased from Rs 161240.32 Cr as on 30^th September 2022 to Rs. 192816.69 Cr on 30^th September 2023. Retail Advances grew by 18.05% to reach Rs. 62009.00Cr. Business Banking advances grew by 18.16% to reach Rs. 15997.14 Cr. Commercial Banking grew by 23.82% to Rs. 19729.00 Cr. Corporate Advances registered a growth of 14.91%to reach Rs. 68058.63 Cr from Rs. 59228.42 Cr. The CV/ CE advances grew by 66.50% to reach Rs 2734.00 Cr.

Highest Ever Operating Profit& Net Profit Growth

The Bank registered Operating Profit of Rs. 1324.45 Cr and Net Profit of Rs. 953.82 Cr for the quarter ended 30^th September 2023. Operating profit recorded a commendable growth of 9.26% on a year-on-year basis.

Remarkable Income Parameters

Net Interest Income grew 16.72 % from Rs. 1761.83 Cr to Rs. 2056.42 Cr as on 30^th September 2023. Total income of the Bank grew 33.59% to reach Rs. 6185.70 Cr. Earnings per share (EPS) annualized is Rs 16.57.

Key Ratios

ROA & ROE of the Bank for the quarter stood at 1.36% and 15.72% respectively.

Robust Asset Quality

Gross NPA of the Bank as at the end of Q2 FY23 stood at Rs. 4436.05 Cr, which as a percentage to Gross Advances stood at 2.26%. The Net NPA and Net NPA as a percentage to Net Advancesas on 30^th September 2023 stood at Rs. 1229.81 Cr and 0.64% respectively. Provision Coverage Ratio excluding Technical Write Off was71.03%.

NetWorth & CapitalAdequacy

Net worth of the Bank increased from Rs. 19617.82Cr to Rs. 26032.07 Cr, as on 30^th September 2023. Capital Adequacy Ratio (CRAR) of the Bank, computed as per Basel III guidelines stood at 15.50% as at the end of the quarter.

Footprint

The Bank has 1389 branches and 1935 ATMs/ Recyclers as on 30^th September 2023.

MAJOR FINANCIALINDICATORS (Standalone Nos)

(Rs. in Cr)

Business Figures	As on 30.09.2023	As on 30.09.2022	Growth (%)
Total Deposits	232868.43	189145.71	é23.12%
Net Advances	192816.69	161240.32	é19.58%
CB Advances	19729.00	15934.04	é23.82%
Retail Advances	62009.00	52527.68	é18.05%
Business Banking Advances	15997.14	13538.86	é18.16%
Agri Advances	25115.00	20325.84	é23.56%
Capital
Equity Capital	470.32	421.91
Net Worth	26032.07	19617.82	é32.70%
Capital Adequacy (%)	15.50	13.84
Tier I (%)	13.79	12.62
Tier II (%)	1.71	1.22

Federal Bank hits highest ever quarterly net profits of 954cr and NII of 2056cr