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This Article is From May 03, 2024

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

Federal Bank Q4 Results Review- Reduced Credit Costs Offset Impact Of One-Off Wage Provisions: Systematix
A Federal Bank branch. (Source: Company)
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The Federal Bank Ltd.
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NDTV Profit'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 NDTV Profit's subscribers an opportunity to expand their understanding of companies, sectors and the economy.

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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