Economy
Federal Bank reports record Q2 profit of ₹1,386 crore, up 45%
The Hindu1h
THE BRIEF
1
Federal Bank posted a record net profit of ₹1,386 crore for the September quarter, a 45% year-on-year increase.
2
The bank's gross non-performing asset (NPA) ratio fell to a decade low of 1.32%, with net NPA declining to 0.17%.
3
Net advances grew 22% YoY to ₹2.49 lakh crore, while total deposits rose 16% to ₹2.49 lakh crore.