Federal Bank net up 51.40%
By James Paul | 30 Oct 2003
Aluva:
Federal Bank, a private sector bank based here, has posted
a 51.40-per cent growth in net profits during the first
half of the current fiscal at Rs 77.73 crore against Rs
51.34 crore in the corresponding half year of the previous
fiscal.
The bank''s half-yearly results revealed that the bank continued to make consistent improvements in operations and profitability, says Federal Bank chairman K P Padmakumar. While the bank''s total income during the first half increased by 13.16 per cent, the total expenses were contained at 2.31 per cent.
This enabled the bank to increase its operating profit to Rs 235.68 crore during the first six months of the current fiscal compared to the level of Rs 160.95 crore achieved during the corresponding period of the previous fiscal.
