Federal Bank Q4 Results Review- Reduced Credit Costs Offset Impact Of One-Off Wage Provisions: Systematix

Margins to be supported by improvement in higher yielding asset mix.

A Federal Bank branch. (Source: Company)

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Systematix Report

Federal Bank Ltd. reported Q4 FY24 profit after tax of Rs 9 billion flat QoQ, -10% YoY with operating profit 2% below our estimate due to one off wage pension related provisions.

Reported profit was 4% above our estimate due to much reduced credit costs on account of benign asset quality coupled with reversal of restructuring related standard provisions and one-off provisions.

Click on the attachment to read the full report:

Systematix Federal Bank - Q4 FY24.pdf
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