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Anand Rathi Report
Federal Bank Ltd.'s higher margins and lower opex led to a 721 basis points betterment of the cost/income ratio. Strong operating performance and benign credit cost (41 bps) led to improved return on asset.
Asset quality was stable as slippages were in line with expectations. With the formation of stress lower than earlier envisaged, recoveries in earnings would be better.
Given Federal Bank's strong liability franchise and capitalisation, it is set to gain market share in the near term.
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