KOCHI:
Federal Bank Announced its Audited Financial Results for the quarter and year ended 31st March 2018 today at Mumbai.
Key Highlights
• Delivered highest ever operating profit of Rs 589 crores in Q4
• All credit business segments grew by a robust 5% plus Q-o-Q
• Materially reduced stressed book size by accelerating NPA recognition in compliance with the revised framework for resolution of stressed assets
• Total business of the Bank crossed the milestone figure of Rupees two lakh crore and reached Rs 2,03,949.96 Cr
• Total advances registered a growth of 26% to reach Rs 93,172.60 Cr
• CASA grew by 17% Y-o-Y in Q4 to reach Rs 37,252 crores. CASA ratio stands at 33.26%
Summary of Q4 Results
The Bank delivered robust growth in all business segments with 5% plus sequential growth in all three credit segments – Corporate, SME and Retail. On the liability front, the Bank clocked a thumping growth of 12%, 8% and 9% in CASA, NRE, and Retail Deposits Q-o-Q.
With respect to the core business metrics of Q4, the Bank met growth expectations. However, the Bank, imbibing the spirit of the revised benchmark for resolution of stressed assets, accelerated the recognition of NPAs, so as to materially improve the stressed asset portfolio. As a result, the stressed book of the Bank (NNPA + Standard Restructured + Security Receipts) is the lowest in 12 quarters. The ratio of Stressed Assets to Total Average Assets is also the least in 12 quarters, even on a robustly growing asset portfolio. The Restructured Standard Book size which includes all erstwhile, SDR, 5/25, S4A etc. is only Rs 792 Crores now. The Bank crossed Rs 2,00,000 crore in total business and delivered its highest operating profit of Rs 589 Cr in Q4.
