Kochi: Federal Bank has announced a quarterly profit of Rs 549 crore, a statement issued by the bank has said. For the quarter which ended March 31, the operating profits recorded a growth of 33.85 percent. Retail advances registered a growth of 25.75 percent to touch Rs 21,793.62 crore. On the corporate front, the advances registered a growth of 38.20 percent, the audited financial results said.
The total business touched Rs 1.71 lakh crore as on March 31, a growth of 24.58 percent.
Net interest income grew by 21.73 percent from Rs 2,507.71 crore in 2016 to Rs 3,052.65 crore in 2017.
The gross non-performing assets of the bank stood at Rs 1,727.05 crore. Gross NPA as a percentage to gross advances was 2.33 percent, lower than 2.84 percent as at the end of FY16. The Net NPA stood at Rs 941.20 crore.
The net worth of the bank grew by 11.42 percent to Rs 8,856.47 crore as against Rs 7948.96 crore in the previous year. The capital adequacy ratio (CRAR) of the bank, computed as per Basel III guidelines, stood at 12.39 percent as on March 31.
The bank had 1,252 branches and 1,667 ATMs.