How did you find the quarterly results of Federal Bank for Dec-21 quarter?

Federal Bank reported 1.05% growth in total revenues for the Dec-21 quarter rising to Rs.4,125 crore. During the Dec-21 quarter, Federal Bank reported growth in retail banking revenues while the income from corporate banking was lower and the treasury income was also lower yoy. For the Kerala bank, the Capital adequacy ratio stood at 14.97%, while the gross NPAs have moved higher yoy to 3.10% from 2.67%. There was Omicron pressure.

Net profits for the Dec-21 quarter was up 29.1% at Rs.539.77 crore due the support of higher revenues and lower provisioning. In fact, provisions for loan losses fell sharply from Rs.433 crore to Rs.240 crore yoy. EBIT from treasury and retail banking were lower but corporate banking EBIT turned to profit in Q3. Net profit margins improved from 10.24% in the Dec-20 quarter to 13.08% in the Dec-21 quarter. Overall, it was a lower provision boost.