BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Axis Securities Report
Federal Bank Ltd. reported better than expected Q2 FY21 performance on the operational front with uptick in net interest margins, strong fee income and improved C-I leading pro-provision operating profit growth of 40/8% YoY/QoQ to Rs 10,065 million.
However, bank took up higher provisioning during the quarter of Rs 5,921 million which subdued bottomline to Rs 3,076 million, down 26/23% YoY/QoQ.
Management expects approximately 30%-40% increase in slippages over the normal run-rate of Rs 3 billion- Rs 3.5 billion.
Restructuring pool is expected to be approximately 2.5%-3.0% of the loans under Rserve Bank of India guidelines for which provisioning has been done.
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