Federal Bank has recorded the highest-ever annual net profit of ₹1,243.89 crore during 2018-19 (up 41.54 per cent) and quarterly net profit of ₹381.51 crore for the fourth quarter (up 163.13 per cent), compared to the corresponding period last year.
Operating profit for the full year under reference grew 20.61 per cent to ₹2,763.10 crore, while that of the fourth quarter looked up by 28.23 per cent at ₹754.75 crore.
Shyam Srinivasan, Managing Director & CEO, Federal Bank, said the bank has once again delivered a robust operating performance, founded firmly on the strong growth momentum in both credit and liabilities.
The tight performance on the slippage front, along with disciplined recovery, contributed significantly to meeting the objectives of the quarter. Overall, it is an encouraging set of numbers, said Srinivasan.
Dividend
The board of directors has recommended a dividend of ₹1.40 per equity share of face value ₹2 each for the year ended March 31, 2019. The dividend will be paid upon approval by shareholders at the annual general meeting.
Annual net interest income grew 16.57 per cent to ₹4,176.35 crore, while quarterly net interest income increased to ₹1,096.53 crore from ₹933.22 crore. Net interest margin stood at 3.14 per cent for FY19, while for the fourth quarter it was 3.17 per cent.
The other major indices that looked up during Q4 are: gross advances up 20.02 per cent at ₹1.12 lakh crore; retail advances grew by 24.79 per cent to reach ₹31,741.96 crore; and agri advances up 21.94 per cent to ₹11,440 crore.
Advances to the small and medium enterprises (SME) grew 11.96 per cent to ₹21,099.31 crore, compared to the previous quarter, while corporate advances looked up by 20.35 per cent to ₹47,548 crore.
Deposits recorded a growth of 20.50 per cent to reach ₹1.35 lakh crore; NRE deposits climbed 17.66 per cent during the quarter to reach ₹50,109.16 crore; and housing loans registered a growth of 32.16 per cent to 15,394 crore.