| · Highest ever annual net profit of ₹ 1,243.89 Cr (grew by 41.54%) and quarterly net profit of ₹ 381.51 Cr (grew by 163.13%)
· Annual operating profit at ₹ 2,763.10 Cr (grew by 20.61%); Quarterly operating profit at ₹ 754.75 Cr (grew by 28.23%) · Total business of the Bank registered a growth of 20.28% to reach₹2,46,783.61 Cr · Deposits recorded a growth of 20.50% to reach ₹ 1,34,954.34 Cr · Asset quality improved substantially with GNPA at 2.92% and NNPA at 1.48% · Retail advances recorded a growth of 24.79% · NRE deposits grew by 17.66 % to reach ₹ 50,109.16 Cr · Auto loans grew by 62.04%, Personal loans grew by 143.08% and housing loans grew by 32.16% |
| Commenting on the results and financial performance, Mr. Shyam Srinivasan, Managing Director & CEO, Federal Bank said, the Bank has once again delivered a robust operating performance, founded firmly on the strong growth momentum in both credit and liabilities. The tight performance of the Bank on the slippage front along with disciplined recovery has contributed significantly towards meeting the objectives of the quarter. Overall, it is an encouraging set of numbers. |
Working Results at a Glance
(₹ in Crore)
| Particulars | Quarter Ended On | Year Ended On | ||||
| 31-03-19 | 31-03-18 | Growth % | 31-03-19 | 31-03-18 | Growth % | |
| Net Profit | 381.51 | 144.99 | é163.13% | 1243.89 | 878.85 | é41.54% |
| Operating Profit | 754.75 | 588.57 | é28.23% | 2,763.10 | 2,291.03 | é20.61% |
| Total Income | 3444.04 | 2862.14 | é20.33% | 12,770.05 | 10,911.98 | é17.03% |
| Net Interest Income | 1096.53 | 933.22 | é17.50% | 4,176.35 | 3,582.81 | é16.57% |
| Other Income | 411.72 | 314.17 | é31.05% | 1,351.02 | 1,159.12 | é16.56% |
OPERATING REVIEW
Total Business
The total business of the Bank grew by 20.28% Y-o-Y from ₹2,05,165.09 Cr as on 31st March 2018 to ₹ 2,46,783.61 Cr as on 31st March 2019.
Credit Growth
Gross Advances at ₹1, 11,829.27 Cr as on 31st March 2019 from ₹ 93,172.60 Cr as on 31st March 2018 registered a growth of 20.02%. Retail advances grew by 24.79% to reach ₹31,741.96 Cr as on 31st March 2019 from ₹ 25,437.00 Cr as on 31stMarch 2018. Agri advances registered a growth of 21.94% from ₹ 9,381.60 Cr as on 31st March 2018 to ₹ 11,440.00 Cr as on 31st March 2019. SME advances grew from ₹ 18,845.00 Cr as on 31st March 2018 to ₹ 21,099.31 Cr as on 31st March 2019 registering a growth rate of 11.96%. Corporate advances went up by 20.35% to reach ₹ 47,548.00 Cr as on 31stMarch 2019 from ₹ 39,509.00 Cr as on 31st March 2018.
Deposit Growth
Deposits recorded a growth of 20.50% to reach ₹ 1,34,954.34 Cr as on 31st March 2019 from ₹ 1,11,992.49 Cr as on 31stMarch 2018. The low cost CASA segment grew by 16.47% to reach ₹ 43,387.67 Cr as on 31st March 2019. The NRE deposits of the Bank posted a growth of 17.66% during the year to reach ₹ 50,109.16 Cr as on 31st March 2019 from ₹ 42,586.31 Cr as on 31st March 2018.
Operating Profit & Net Profit
The Bank delivered an annual operating profit of ₹ 2,763.10 Cr (grew by 20.61%) and Quarterly operating profit of ₹ 754.75 Cr (grew by 28.23%). Highest ever annual net profit of ₹ 1,243.89 Cr (grew by 41.54%) and quarterly net profit of ₹ 381.51 Cr (grew by 163.13%)
Margins
Annual Net Interest Income increased from ₹3,582.81 Cr to ₹ 4,176.35 Cr registering a growth of 16.57% as on 31st March 2019 while the quarterly Net Interest Income increased to ₹ 1,096.53 Cr from ₹933.22 Cr as on 31st March 2019. Net Interest Margin stood at 3.14% for FY19 while the quarterly Net Interest Margin stood at 3.17%.
Asset Quality
The Gross NPA of the Bank as on 31st March 2019 stood at ₹3,260.68 Cr. Gross NPA as a percentage to Gross Advances is 2.92%. The Net NPA stood at ₹1,626.20 Cr and this as a percentage to Net Advances is 1.48%. The Provision Coverage Ratio (including technical write-offs) stood at 67.16% as on 31st March 2019.
Capital Adequacy& Net worth
The Capital Adequacy Ratio (CRAR) of the Bank, computed as per Basel III guidelines, stood at 14.14% as on 31st March 2019. The Net Worth of the Bank is at ₹ 13273.04 Cr as on 31st March 2019.
Digital Banking – Digital @ the Fore, Human @ the Core
- New partnership with Ripple Inc, a block chain supported global remittance company, for cross border remittance through its network. Powered by block chain-enabled solution, the Ripple platform ensures safe and secure cross-border transactions
- FedAlert Mobile App to serve instant alerts via push notifications. It assures secured and reliable delivery of alerts. This facility will help the NR customers significantly.
- 43% increase in digital transactions and a growth of 25.47% with regard to digital users
- More than 1000 customers on-boarded to the new transaction banking platform – Fed E Biz and have transacted to the tune of ₹ 1400 Cr during the month of March 2019
- More than 1 Lakh customers on-boarded to Bharat QR platform
Dividend
The Board of directors at its meeting held today has recommended a dividend of ₹1.40 per equity share having face value of ₹2 for the year ended 31st March 2019. The dividend will be paid after the approval of shareholders at the Annual General Meeting.
Footprint
The Bank has 1251 branches, 1669 ATMs and 269 Cash Machines as on 31st March 2019. The Bank also has its Representative Offices at Abu Dhabi and Dubai and an IFSC Banking Unit (IBU) in Gujarat International Finance Tec-City (GIFT City).