Business

Federal Bank profit up

Federal Bank has registered a 63 per cent rise in operating profit at Rs. 305.40 crores for the year ended March 31, 2002 against Rs. 187.04 crores in the previous year. The net profit is up by 34 per cent at Rs. 82.01 crores against Rs. 61.04 crores.

Total business, including investments in corporate bonds and debentures, has touched Rs. 15,132 crores against Rs. 13.613 crores.

Deposits grew by Rs.1,200 crores to Rs. 8,865 crores and advances by Rs. 335 crores to Rs. 5,189 crores. The bank could recover a sum of Rs. 155 crores from the non-performing assets.

The credit deposit ratio stood at 58.53 per cent.

Total income has increased by 21 per cent to Rs. 1,263 crores from Rs. 1,044 crores. The net interest income has increased by 17 per cent to Rs. 276.25 crores from Rs. 236.98 crores. Other income has spurted to Rs. 220 crores from Rs. 125 crores. The directors have recommended a dividend of 35 per cent.

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