Private sector lender Federal Bank’s consolidated net profit grew by 13.12% to `852.66 crore for FY-13 taking their total business to over `1 lakh crore during the last quarter.
The standalone profit of the bank grew to reach `838.17 crore, posting a 7.90% growth rate. According to the bank, the key drivers were retail, SME and NRI franchise.
Total income for the year grew by 12.17% to ` 6,832.01 crore. The bank reported a healthy CASA increase of 23.49% from `11630 crore to `14362 crore.
The net NPA (non performing assets) of the bank stood at `431.94 crore at 0.98% while their gross non performing assets stood at 3.44 per cent.
The bank said that their total provisions held against non-performing advances, expressed as a percentage of gross NPAs amounted to 80.96% (including technically written off accounts) at the end of FY-13.