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Federal Bank records profit

KOCHI: The Aluva-based Federal Bank has clocked a net profit for the first quarter at Rs. 136.38 crore, up by 100.12 per cent year-on-year over the net profit of Rs.68.15 crore recorded for the first quarter of the last fiscal.

Total income for the first quarter increased to Rs.1,021.79 crore from Rs.841.33 crore, showing an increase of 21.45 per cent. Total business of the bank reached Rs.55,012 crore.

The Net Interest Margin of the bank for the quarter that ended June 2009 is at 3.31 per cent as against 3.80 per cent in June 2008.

The Net NPA, Return on Average Assets and Capital Adequacy Ratio were at 0.29 per cent, 1.40 per cent and 19.11 per cent respectively as on 30 June 2009, compared to 0.46 per cent, 0.84 per cent and 20.74 per cent as on the corresponding period last year, says a press release.

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