Mumbai: Federal Bank announced its financial results for the quarter and year ended March 2016.
The Total Business of the Bank registered a growth of 12.41% to reach Rs. 137261.85 cr. While deposits increased by 11.78% from Rs. 70824.99 cr, total advances grew 13.27% to Rs. 58090.14 cr. Housing loans increased to Rs. 7876.10 cr, up by 14.95%. The Bank posted an operating profit of Rs. 1423.78 cr. and a net profit of Rs. 475.65 cr. Q4 Net profit stood at Rs. 10.26 cr. Net Interest Income grew 5.20% from Rs. 2380.41 Cr in FY15 to Rs. 2504.25 Cr in FY16. Net Interest Margin stood at 3.14%. Gross NPAs of the bank stood at Rs. 1667.77 cr. Gross NPA as a percentage to gross advances at 2.84% is significantly lower than 3.15% as at the end of Q3FY16. Net NPA stood at Rs. 950.01 cr and this as a percentage to net advances was 1.64%. The Provision Coverage Ratio (including technical write-offs) stood at 72.05%.
