Federal Bank – A Turnaround banking Story?

https://www.federalbank.co.in/documents/10180/326836680/Financial+Result+-+FY23+Q3+Results.pdf/7b162eb2-3242-0f3c-fa93-6fc45d0623e6?t=1673853386698

Encouraging Q3 results from Federal Bank.

Some highlights that caught my attention ( from investor PPT ) –

Q3 VS Q2 VS Q1 –

Fresh Slippages – 398 cr vs 375 cr vs 444 cr ( well within Bank’s guidance range of 1600 cr of annual slippages )

Restructured accounts – 3735 cr vs 3892 cr vs 3900 cr ( nicely controlled )

Net NPAs – 1229 cr vs 1262 cr vs 1420 cr ( nicely controlled )

Cost to Income Ratio – 48.84 vs 48.88 vs 52.68 ( massive improvement here )

Disc : invested from Rs 105 levels. Biased.