Federal Bank reports 11% rise in Q1 net profit

Federal Bank has reported unaudited results for the first quarter ended June 30, 2011.

The Bank’s profit for the quarter ended June 30, 2011 has increased by 10.84% at Rs 146.16 crore as compared to Rs 131.86 crore for the corresponding quarter last year. Its total income has grown by 28.25% at Rs 1361.61 crore for the quarter under review from Rs 1061.68 crore for the same quarter last year.

Federal Bank provides a wide range of banking products and services such as saving accounts, deposits, personal loans, ATM services, telebanking services, RTGS, insurance, etc.