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Last Updated : Jul 25, 2016 09:40 AM IST | Source: CNBC-TV18

Improving asset quality led to lower Q1 slippages: Federal Bank

The bank reported a 18.3 percent rise in net profit to Rs 167 crore in the first quarter while the gross non-performing assets (NPA) grew to 2.92 percent as against 2.84 percent quarter-on-quarter.


Improvement in asset quality led to a slowdown in slippages in the first quarter of FY17, says Shyam Srinivasan, MD & CEO of Federal Bank.

The bank reported a 18.3 percent rise in net profit to Rs 167 crore in the first quarter while the gross non-performing assets (NPA) grew to 2.92 percent as against 2.84 percent quarter-on-quarter.

Net interest income rose 14.4 percent to Rs 692.7 crore in Q1FY17.

The bank’s credit growth is happening at 19 percent year-on-year. The plan is to maintain the current growth momentum, says Srinivasan.

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First Published on Jul 25, 2016 09:08 am
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