Federal Bank wins Best Bank award from The Financial Express

Federal Bank has been awarded ‘FE Best Bank award’ under the category ‘Old Private Sector Bank for the year 2014-15’ by The Financial Express.

The bank has reported 18.33% rise in its net profit at Rs 167.31 crore for the first quarter ended June 30, 2016 as compared to Rs 141.39 crore for the same quarter in the previous year. Total income of the bank has increased by 6.82% at Rs 2250.81 crore for quarter under review as compared to Rs 2107.09 crore for the quarter ended June 30, 2015.

The bank’s gross NPA for the April-June quarter of the current fiscal increased to 2.92%, as compared to 2.59% in the same quarter of the previous year. Besides, bank’s Net NPA stood at 1.68% in Q1FY17.