Federal Bank Q3 profit marginally down

Kochi: Federal Bank has posted a net profit of Rs 260.01 crore for the quarter ended December 31, 2017 compared with Rs 263.70 crore the bank posted for the previous quarter ending September 30, 2017.

However, the third quarter profit saw a 26 per cent growth compared with the same period last year when the bank posted a net profit of Rs205.65 crore.

Interestingly, the segment results show that more than 87 per cent of the profit before tax (PBT) at Rs 347.44 crore has been contributed by retail banking operations of the bank.

Non- performing assets of the bank saw a marginal growth during the quarter as the gross NPA inched up from 2.39 per cent of the total assets to 2.52 per cent as the quarter drew a close. Likewise, the net NPA also witnessed a marginal growth from 1.32 per cent to 1.36 cent during this period.

 

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