Net interest income stood at Rs 1,909 crore in Q4 FY23, up 25.2% over Rs 1,525 crore in the same quarter last year. Net interest margin improved to 3.31% in Q4 FY23 from 3.16% in Q4 FY22.

Provisions and contingencies jumped 55.05% to Rs 116.66 crore in Q4 FY23 from Rs 75.24 crore in Q4 FY22. Provision coverage ratio stood at 70.02%.

On a standalone basis, the bank's net profit jumped 59.31% to Rs 3,010.59 crore on 21.48% increase in total income to Rs 19,133.63 crore in the year ended March 2023 over the year ended March 2022.

Net worth of the bank increased 14.78% YoY to Rs 21,419.49 crore as on 31 March 2023. The capital adequacy ratio (CRAR) of the bank, computed as per Basel III guidelines, stood at 14.81% as on 31 March 2023.

As on 31 March 2023, gross NPA and net NPA of the Bank stood at Rs 4,183.77 crore and Rs 1,205.01 crore respectively. Gross NPA as a percentage to gross advances stood at 2.36% and Net NPA percentage was at 0.69%.

Gross advances recorded a growth of 20.14% to reach Rs 1,77,376.53 crore from Rs 1,47,639.45 crore posted on 31 March 2023. Total deposits reached Rs 2,13,386.04 crore from Rs 1,81,700.57 crore as on 31 March 2023.

The CASA deposits grew 4% YoY to Rs 69,741 crore in Q4 FY23 and CASA Ratio slipped to 32.68% in Q4 FY23 from 36.94% posted in Q4 FY22.

During the year, retail advances grew by 17.16% to reach Rs 56,076.86 crore. Agri advances stood at Rs 23,355 crore, registering a growth of 21.46%. Commercial banking advances grew by 17.91% to Rs 17,274 crore. Corporate book registered a growth of 23.45% YoY to reach Rs 64,311.34 crore.

Return on assets (ROA) for Q4 FY23 improved to 1.45% as against 1.03% in Q4 FY22. Return on equity (ROE) increased to 17.48% in the quarter ended 31 March 2023 as compared to 11.93% in the corresponding quarter previous year.

Shyam Srinivasan, managing director & CEO of Federal Bank said, “We have delivered industry leading outcomes with Net profit at Rs 903 crore QoQ and ROE at an all-time high at 17.48%. The consistent performance exhibited throughout the year has yielded in net annual profits of Rs 3,010.59 crore, while maintaining benign asset quality across the segments. This very strong performance is a testimony to the dedicated efforts of the team and the trust of our customers. It's noteworthy that our market share gains across product categories is gathering momentum quarters.”

Meanwhile, the board of directors recommended a final dividend of Re 1 for the year ended 31 March 2023.

Federal Bank operates through four segments: treasury, corporate or wholesale banking, retail banking and other banking operations. The bank has 1355 branches and 1914 ATMs/recyclers as on 31 March 2023.

The scrip tumbled 7.35% to Rs 129.15 on the BSE.