Kochi : Federal Bank announced its audited financial results for the quarter and year ended 31st March 2021 today.
Working Results at a Glance
(₹ in Crore)
|
Particulars |
Quarter Ended On |
Year Ended On |
||||
|
31-03-21 |
31-03-20 |
Growth % |
31-03-21 |
31-03-20 |
Growth % |
|
|
Net Profit |
477.81 |
301.23 |
é58.62% |
1,590.30 |
1,542.78 |
é03.08% |
|
Operating Profit |
885.09 |
959.31 |
ê07.74% |
3,786.90 |
3,204.69 |
é18.17% |
|
Net Interest Income |
1,420.37 |
1,216.02 |
é16.80% |
5,533.70 |
4,648.90 |
é19.03% |
OPERATING REVIEW
Total Business
The total business of the Bank reached ₹ 3,04,523.08 Cr as on 31st March 2021 from ₹ 2,74,557.99 Cr as on 31st March 2020, registering a growth of 10.91%.
Credit Growth
Gross Advances reached ₹ 1,34,876.71 Cr as on 31st March 2021 from ₹ 1,24,153.18 Cr as on 31st March 2020 registering a growth of 8.64%. Retail advances grew by 18.57% to reach ₹ 44,910.14 Cr as on 31st March 2021 from ₹ 37,877.97 Cr as on 31st March 2020. Gold loans registered a staggering growth of 70.05% to reach ₹ 15,816.00 Cr as on 31st March 2021. Business Banking advances grew by 12.93% to reach ₹ 11,890.05 Cr.
Deposit Growth
Deposits recorded a growth of 13.37% to reach ₹ 1,72,644.48 Cr as on 31st March 2021 from ₹ 1,52,290.09 Cr as on 31st March 2020. The CASA deposits reached ₹ 58,370.48 Cr as on 31st March 2021. CASA Ratio stands at 33.81%. The NRE deposits of the Bank posted a growth of 11.77% during the year to reach ₹ 63,958.84 Cr as on 31st March 2021.
Operating Profit & Net Profit
The Bank delivered an annual operating profit of ₹ 3,786.90 Cr as on 31st March 2021 against ₹ 3,204.69 Cr as on 31st March 2020 registering a growth of 18.17%. The annual net profit is at ₹ 1,590.30 Cr as on 31st March 2021 up from ₹ 1,542.78 Cr as on 31st March 2020.
Income & Margins
Annual Net Interest Income increased from ₹ 4,648.90 Cr to ₹ 5,533.70 Cr registering a growth of 19.03% as on 31st March 2021 while the quarterly Net Interest Income increased to ₹ 1,420.37 Cr from ₹ 1,216.02 Cr as on 31st March 2020. Other income as on 31st March 2021 stands at ₹ 1,944.91 Cr. Net Interest Margin stood at 3.16% for FY21 while the quarterly Net Interest Margin stood at 3.23%.
Asset Quality
The Gross NPA of the Bank as on 31st March 2021 stood at ₹ 4,602.39 Cr. Gross NPA as a percentage to Gross Advances is 3.41% as on 31st March 2021. The Net NPA stood at ₹ 1,569.28 Cr and Net NPA percentage is at 1.19% as on 31st March 2021. The Provision Coverage Ratio stood at 65.14% as on 31st March 2021.
Capital Adequacy & Net worth
The Capital Adequacy Ratio (CRAR) of the Bank, computed as per Basel III guidelines, stood at 14.62% as on 31st March 2021. The Net Worth of the Bank was at ₹ 16,123.61 Cr as on 31st March 2021.
Dividend
The Board of directors at its meeting held today has recommended a dividend of 35% per equity share having face value of ₹ 2 for the year ended 31st March 2021. The dividend will be paid after the approval of shareholders at the Annual General Meeting.
Awards & Accolades
Major Partnership
Footprint
The Bank has 1272 branches, 1947 ATMs/ Recyclers as on 31st March 2021. The Bank also has its Representative Offices at Abu Dhabi and Dubai and an IFSC Banking Unit (IBU) in Gujarat International Finance Tec-City (GIFT City).
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