Federal Bank reported 42.13% growth in net profit at ₹853.74 crore for the primary quarter ended June 30, 2023 from the year-earlier interval. During the quarter, the financial institution’s whole earnings grew 41.05% to ₹5,756.94 crore year-on-year (YoY).
Net curiosity earnings (NII) grew 19.57% to ₹1,918.59 crore from the yr ancient times. Total enterprise grew 21.17% YoY to ₹405,982.91 crore. While whole deposits grew 21.35% to ₹2,22,495.50 crore, net advances reached ₹1,83,487.41 crore as on June 30, 2023, a rise of 20.96%, the financial institution mentioned.
