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Federal Bank posts 51.4 pc growth
The Aluva-based Federal Bank has posted a 51.4 per cent growth in net profit during the first half of the current fiscal at Rs. 77.73 crores against Rs. 51.34 crores in the corresponding half-year of the previous fiscal.
The bank Chairman, K. P. Padmakumar, told reporters that the net NPA, which is at present 4.49 per cent, would be brought down to below 3 per cent by the end of this financial year. The bank hopes to introduce 100 per cent connectivity of all branches by December-end.
Total deposits registered a growth of 20.5 per cent and advances 26.7 per cent.
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