Federal Bank Q4 Review - Business Growth Outlook Improving: ICICI Direct
Federal Bank Vashi branch. (Source: BloombergQuint)  

Federal Bank Q4 Review - Business Growth Outlook Improving: ICICI Direct

Bookmark

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. reported mixed results wherein it saw an improvement in business growth and stable asset quality but with utilisation of Covid-19 provisions in the current quarter, additional provisioning buffer has reduced.

Net interest income declined 1.2% QoQ to Rs 1420 crore. This was below our expectations.

Reversals worth Rs 21 crore for interest on interest relief were party responsible for slower net interest income growth.

Net interest margins remained stable at 3.23% versus 3.22% on a QoQ basis aided by lower cost of funds.

Click on the attachment to read the full report:

ICICI Direct Federal Bank Q4FY21 Result Update.pdf

DISCLAIMER

This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.