NEWS & ADVICE : SAVINGS ACCOUNTS
Federal bank reported a high increase in its net profit
By Vaibhav Aggarwal
Jul 17, 2014
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State owned bank Federal bank has reported a high profit in its growth. The bank has earned net profit more than doubled to Rs 220.23 crore in the April-June quarter of 2014-15 against Rs 105.66 crore.

Total deposits of the bank have increased by 3.49 per cent to Rs 61,815 crore. The bank has been steadily growing and enhancing its business. The bank is intending to reach more customers and establish more branches across the country.

The Net NPA of the bank dropped down by 0.6% from 0.74% to 0.68%. Total Income has increased to Rs 1,928.04 crore for the quarter ended June 30, 2014, from Rs 1,869.05 crore in the year-ago period. By the end of June, 2014 the bank has added 29 branches and 33 ATMs.


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