Q3FY17 Quarterly Results: Federal Bank

Federal Bank has reported strong growth in earnings in its Q3FY17 numbers declared today. The NII for the period recorded a 31 per cent YoY growth to Rs 791 crore. Its operating profit grew 46 per cent YoY aided by the other income growth of 44 per cent. However, higher provisioning led to a slightly more subdued growth at the net profit level. The net profit for Q3FY17 came in at Rs. 2016 crore, a YoY growth of 26.4 per cent.

The bank's total deposits increased 23 per cent YoY, while advances grew 32 per cent YoY with a thrust from wholesale banking. Its gross NPAs also decreased 38 bps to 2.77 per cent and net NPAs fell 8 bps to 1.58 per cent. The profit per employee grew 28 per cent YoY.

The bank's stock opened for trading at Rs 77.40 and fell ~0.07 per cent and is currently trading around the Rs 76.75-mark.

Federal Bank Ltd is an Indian commercial private sector bank based in Kerala. The bank's services include wholesale banking, treasury operations, retail banking and other banking operations. The bank has 743 branches and 803 ATMs.