FEDERAL BANK Q2 – The overall business growth was very healthy with great asset Quality for Federal Bank ( one can have a look at the numbers on Screener.in
Management expects business growth to accelerate in second half
NIMs in Q1, Q2 were 3.15, 3.16. Management believes, NIMs should be around 3.2 pc mark in H2
Increase in cost of deposits is tapering. Seeing nice / steady increase in yields on advances. Also, the higher margin business / loans are growing faster ( like personal loans, credit cards, CV/Auto loans )
Fresh slippages in Q2 at 373 cr – very healthy
MFI disbursements @ around 200 cr/ Qtr. Growth looks sustainable ( again very high margin business )
Gross NPAs @ 2.26 vs 2.39 pc in Q1
Net NPAs @ 0.64 vs 0.69 pc in Q1
Most of unsecured loan book growth is attributable to existing bank customers and not to the – ‘new to Bank customers’
Disc: holding, biased, not SEBI registered
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