Federal Bank Q4 Review - Mixed Quarter, Management Outlook Encouraging: Axis Securities

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Axis Securities Report.Federal Bank Ltd. reported a muted Q4 FY22 with operational performance below our expectations, except for lower than expected provisions resulting in a beat on profit after tax. Advances grew by 10% YoY and the management expects the growth momentum to improve going into FY23E and expects the book to grow at 15% with most key segments contributing to the growth. Federal Bank's asset quality improved, with gross non-performing asset at 2.8% versus 3.1% QoQ. Slippages came in at Rs 399 crore and included a one-off from the agri portfolio. Slippage ratio stood at 1.1% versus 1.3% QoQ. Asset quality improvement was aided by improved recoveries and upgrades which stood at Rs 417 crore. Collection efficiency remained stable at ~95%. .Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Federal Bank Q4 Review - Mixed Quarter, Management Outlook Encouraging: Axis Securities

Federal Bank Q4 Review - Mixed Quarter, Management Outlook Encouraging: Axis Securities

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