Federal Bank jumped 5.01 per cent to Rs 131.05 after the private bank posted a 52.89 per cent rise in standalone net profit to Rs 703.71 crore in the second quarter of FY23 from Rs 460.26 crore in the second quarter of FY22.

The bank’s total income grew 19.62 per cent to Rs 4,630.30 crore in the second quarter of FY23 compared with Rs 3,870.90 crore in the second quarter of FY22. Operating profit before provisions and contingencies increased 32.9 per cent YoY to Rs 1,212.24 crore in the second quarter of FY23.

Net interest income stood at Rs 1,762 crore in the second quarter of FY23, up 19.1 per cent over Rs 1,479 crore in the second quarter of FY22. Net interest margin improved marginally to 3.30 per cent in the second quarter of FY23 from 3.20 per cent in the second quarter of FY22.

The CASA deposits grew 10.74 per cent yearly to Rs 68,873.27 crore in the second quarter of FY23, and CASA Ratio improved to 36.41 per cent in the second quarter of FY23 from 36.16 per cent posted in the second quarter of FY22.

During the quarter, retail advances grew by 18.38 per cent to Rs 52,438.89 crore. Agri advances stood at Rs 21,090.70 crore, registering a growth of 17.96 per cent. Corporate advances hit a high at 20.70 per cent to Rs 58,928.90 crore from Rs 48,822.63 crore posted in the second quarter of FY22.

For the second quarter of FY23, Return on assets (ROA) improved to 1.21 per cent compared with 0.92 per cent in the second quarter of FY22. Return on equity (ROE) increased to 14.36 per cent at the end of the second quarter of FY23 compared with 10.73 per cent in the second quarter of FY22.

Federal Bank operates through four segments: treasury, corporate or wholesale banking, retail banking and other banking operations. The Bank has 1305 branches and 1876 ATMs/ Recyclers as on 30 September 2022.

This bank has to operate under four segments: retail banking, other banking operations, wholesale, treasury or corporate banking. As on 30 September 2022, 1305 Federal Bank branches, 1876 ATMs and recyclers. On Friday, the stock hit an all-time high of Rs 132.10.