InvestorQ : How do you view the Federal Bank quarterly results for Jun-20?
sarah Leo made post

How do you view the Federal Bank quarterly results for Jun-20?

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vidhya Laxmi answered.
3 months ago
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Federal Bank reported 4.3% higher net profits at Rs.401 crore for the Jun-20 quarter. This was driven by higher net interest income and other income. NII was higher by 12.3% at Rs.1296 crore in Q1 while other income grew 24.7% to Rs.488 crore. These numbers were delivered in fairly tough market conditions amidst the lockdown.

Net NPA of Federal Bank were down to 1.22%, one of the lowest levels in 20 years. However, provisions and contingencies more than doubled to Rs.395 crore during the Jun-20 quarter. Gross NPAs were slightly higher at 2.96% on a sequential basis. Of course, the real picture may only emerge once the EMI moratorium is lifted.

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