BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Direct Report
Federal Bank Ltd.'s Q2 FY22 earnings;
Overall outlook improving. Loans up 9.4% YoY at Rs 1.34 lakh crore, deposits up 9.7% YoY. Net interest income up 7.2% YoY and 4.3% QoQ, net interest margin rises 5 bps at 3.2% QoQ.
Gross non performing assets down 26 bps QoQ to 3.24%, restructured book at ~2.6%.
Key triggers for future price performance:
Asset quality performance enthuses with positive outlook.
Gradual pick up in advances and diversified asset mix to aid earnings.
Focus on high yielding book (MFI and credit cards) and strong liability franchisee to support margins.
Benefit of digital partnership and business growth to be watched.
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