Indian private lender Federal Bank reports 11% Q2 net profit rise to ₹1,057 crore due to increased net interest income and improved asset quality.
Federal Bank, an Indian private lender, reported an 11% rise in Q2 net profit to ₹1,057 crore, attributed to a 15% increase in net interest income, reaching ₹2,367 crore. Total income grew to ₹7,541 crore. The bank’s asset quality improved, with gross non-performing assets decreasing to 2.09%. However, the Capital Adequacy Ratio fell to 15.20%. Federal Bank plans to raise ₹1,500 crore through infrastructure bonds in H2FY25.
October 28, 2024
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