Hotline: 1800 102 2007
X
Loading
Search Business Opportunities
2014-01-18

SME advances by Federal Bank up 8.5%, Q3 profit rise

Federal Bank reported a jump of 9.1 per cent in net profit of Rs 230 crore in the third quarter ended December 31.

Federal Bank reported a jump of 9.1 per cent in net profit of Rs 230 crore in the third quarter ended December 31. The private sector bank's net profit during the same period in the previous fiscal was Rs 210.78 crore, a bank release said.

 

The gross NPA came down from Rs 1,466 crore to Rs 1,201 crore and gross NPA as a percentage to gross advances came down to 56 bps from 3.39 per cent to 2.83 per cent.

 

SME advances of the bank grew by Rs 798 crore (8.50 per cent), from Rs 9,386 crore to Rs 10,184 crore on a sequential basis.

 

Retail advances ex-gold loans grew by Rs 475 crore (5 per cent) from Rs 9,491 crore to Rs 9,966 crore sequentially. The Bank reduced its dependence on Large Corporate Advances as the portfolio recorded de-growth of Rs 1,805.75 crore.

 

The bank continued to build on its strong Retail/ NRI franchise that helped it improve its low cost deposit share in total deposits (CASA + FCNR) from 32.85 per cent to 33.47 per cent on a sequential basis.

 

It added Rs 670.89 crore of low cost deposits during the quarter, which was led by growth in FCNR deposits to the tune of Rs 351.63 crore. Retail Deposits Ratio improved to 93.03 per cent from 92.31 per cent sequentially.

Related opportunities
  • Tea and Coffee Chain
    About Teaquila :- Teaquila’s Tea Pod, an initiative of the green Brewers, is..
    Locations looking for expansion Maharashtra
    Establishment year 2016
    Franchising Launch Date 2016
    Investment size Rs. 5lac - 10lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Mumbai City Maharashtra
  • About the Sukkoon:Sukkoon Salon is an established salon and spa..
    Locations looking for expansion New Delhi
    Establishment year 1996
    Franchising Launch Date 2016
    Investment size Rs. 30lac - 50lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater South Delhi New Delhi
  • HR & Recruitment
    Coppergate - a specialist headhunting, staffing & Education Company looking..
    Locations looking for expansion Maharashtra
    Establishment year 2007
    Franchising Launch Date 2008
    Investment size Rs. 50 K - 2lac
    Space required 100 - 600 Sq.ft
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Mumbai City Maharashtra
  • Foreign language coaching
    About us:Started in 2015 in Chennai, EnglishLabs focuses on training..
    Locations looking for expansion Tamil Nadu
    Establishment year 2015
    Franchising Launch Date 2017
    Investment size Rs. 5lac - 10lac
    Space required 800 - Sq.ft
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Chennai Tamil Nadu
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities