Federal Bank has registered a 30.23 per cent increase in net profit at Rs 190.35 crore in the first quarter of 2012-13 against Rs 146.16 crore in the corresponding period last year. The operating profit stood at Rs 346.51 crore.
Total business touched Rs 88,601 crore, an increase of 18.28 per cent year-on-year. Total deposits rose 17.75 per cent to Rs 50,558 crore as on June 30, 2012.
Retail deposits grew 31.36 per cent to Rs 43,376.46 crore, and CASA deposits by 25.34 per cent to 14,334.88 crore.
Net interest margin for the quarter was 3.42 per cent.
The Capital Adequacy Ratio , computed as per Basel II guidelines, stands at a comfortable 15.45 per cent.
The retail and SME advances formed 55.74 per cent of the gross advances.
The bank’s retail gold loan business grew 113 per cent. Lending to agriculture sector was at Rs 4,199.10 crore, a growth of 9.48 per cent.
Net advances went up by 18.99 per cent, and this growth was contributed by the SME, corporate and retail segments.
The bank is slated to cross a milestone in mid-August, when it will inaugurate its 1000{+t}{+h} branch, at Thiruvalla in Kerala.