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Federal Bank's Q3 profit up 9% on strong loan growth, better asset quality
Federal Bank's Q3 profit up 9% on strong loan growth, better asset quality
Mumbai: Strong loan growth, better asset quality, higher core income, and improved profitability helped Federal Bank report stellar performance for the quarter ended December.
The private sector bank's net profit rose 9% year-on-year and quarter-on-quarter to ₹1,041 crore in Q3FY26.
While advances rose 9% year-on-year to ₹2.65 trillion, led by strong momentum in the commercial and corporate banking segment, deposit growth outpaced at 15% to ₹2.50 trillion.
Retail loans, which constitute 55% of the bank's customer assets, rose 9% year-on-year to ₹94,886 crore. Commercial loan book rose 25% on year to ₹28,177 crore and corporate rose 5% on year to ₹1.42 trillion.
Asset quality of the bank also continued to improve with gross non-performing assets ratio improving to 1.72% as against 1.83% a quarter ago. Net NPA also fell to 0.42% from 0.48% in the previous quarter. This was led by lower slippages of ₹435 crore as of December end, compared with ₹579 crore in the prior quarter.
Net interest income of the bank rose over 9% on year and 6% on quarter to ₹2,653 crore. Consequently, the net interest margin of the bank was up by 12 basis points sequentially to 3.18% led by improvement in the bank's liability mix and asset repricing.
“We are seeing increasing benefits from a stronger liability franchise and a calibrated shift in our asset mix toward segments that deliver superior risk-adjusted returns,” said managing director and chief operating officer K.V.S. Manian in a press release. “At the same time, cost discipline and prudent risk management remain central to how we operate.”
NII, operating profit, and fee income each reaching all-time highs have reflected strong core earnings momentum, the release said. Fee income of the bank rose 19% year-on-year to ₹896 crore.
CASA (Current Account and Savings Account) ratio improved to 32.07% as of December end, up 106 basis points (bps) on quarter and 191 bps on year. One basis point is equal to one-hundredth of a per cent.
During the quarter, the bank's cost-to-income ratio improved to 53.92%, reflecting continued operating leverage, which in turn aided its bottom line.
Following the news, shares of the bank rose 8.6% to ₹268.20 on the National Stock Exchange.
Source: LiveMint
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