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Federal bank's Net profit dips
Kochi: The Kerala-based Federal Bank today reported a 7.18 per cent fall in its net profit for 2009-10 at Rs 464.55 crore from Rs 500.49 crore in the previous year. The fall was mainly due to the additional provisions made towards Income Tax, Bank Chairman and Managing Director M Venugopalan told reporters here. During the fourth quarter of 2009-10 fiscal, the net
profit rose marginally to Rs 116.85 crore compared to 114.17 crore during the corresponding period in the previous fiscal. The interest income for the fourth quarter increased by 10.10 per cent on a year-on-year basis to Rs 953.14 crore while that for the entire fiscal increased by 10.79 per cent to Rs 3,673.23 crore. Similarly, the total income for the fourth quarter also increased by 6.64 per cent to Rs 1,083.73 crore compared to the corresponding period a year go. The total income for the 12-month period went up from Rs 3,831.15 crore to Rs 4,204.14 crore, an increase of 9.74 per cent on a y-o-y basis. The net interest income for the quarter and for the 12-month period recorded an increase of 27.66 per cent and 7.25 per cent respectively over the corresponding period of the previous fiscal.
The bank's total business increased to Rs 63,008 crore. The net NPA, Return on Average Assests and Capital Adequ acy Ratio were 0.48 per cent, 1.15 per cent and 17.26 per cent resepectively as on Mar 31 this year compared to 0.30 per cent, 1.48 per cent and 20.14 per cent as on March 2009. The bank has plans to open at least 100 branches this year, including 40 in Kerala, he said. It will pursue aggressive business growth opportunities and is eying a total business of Rs one lakh crore by March 2012. PTI
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Kochi: The Kerala-based Federal Bank today reported a 7.18 per cent fall in its net profit for 2009-10 at Rs 464.55 crore from Rs 500.49 crore in the previous year. The fall was mainly due to the additional provisions made towards Income Tax, Bank Chairman and Managing Director M Venugopalan told reporters here. During the fourth quarter of 2009-10 fiscal, the net
profit rose marginally to Rs 116.85 crore compared to 114.17 crore during the corresponding period in the previous fiscal. The interest income for the fourth quarter increased by 10.10 per cent on a year-on-year basis to Rs 953.14 crore while that for the entire fiscal increased by 10.79 per cent to Rs 3,673.23 crore. Similarly, the total income for the fourth quarter also increased by 6.64 per cent to Rs 1,083.73 crore compared to the corresponding period a year go. The total income for the 12-month period went up from Rs 3,831.15 crore to Rs 4,204.14 crore, an increase of 9.74 per cent on a y-o-y basis. The net interest income for the quarter and for the 12-month period recorded an increase of 27.66 per cent and 7.25 per cent respectively over the corresponding period of the previous fiscal.
The bank's total business increased to Rs 63,008 crore. The net NPA, Return on Average Assests and Capital Adequ acy Ratio were 0.48 per cent, 1.15 per cent and 17.26 per cent resepectively as on Mar 31 this year compared to 0.30 per cent, 1.48 per cent and 20.14 per cent as on March 2009. The bank has plans to open at least 100 branches this year, including 40 in Kerala, he said. It will pursue aggressive business growth opportunities and is eying a total business of Rs one lakh crore by March 2012. PTI
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