Federal Bank Q4 Review - Asset Quality Stable; Stressed Book To Assets Stood At 1.76%: IDBI Capital
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.
IDBI Capital Report
Federal Bank Ltd. reported stable asset quality with gross non performing assets at 3.41% versus 3.38% QoQ (versus 2.84% YoY) led by lower slippages and higher write offs.
Covid-19 specific restructuring assets stood at 1% of total advances well within guided range of 1.2-1.3%.
However, stressed book percentage of assets which was declining for last three years spiked to 1.76% versus 1.08% QoQ due to Covid-19 impact.
Net interest income grew by 17% YoY (24% YoY growth Q3 FY21) led by improvement in net interest margins which stood at 3.2%.
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