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Federal Home Loan News - Dec 2021
- 2021-05-20 : Federal Bank revised its Marginal cost of lending rates
With effect from 16 May 2021, Federal Bank changed its MCLR. The overnight and one-month MCLR is 7.65% and 7.75%, respectively. The MCLR for three months stands at 7.80%. Further, the MCLR for six months and one year is 7.85% and 7.90%, respectively. The revised rates will impact MCLR based home loans. - 2021-01-06 : Federal Bank’s gross advances rise 6% YoY in Q3
Federal Bank reported a 12% increase in total deposits which includes fixed and recurring deposits for the third quarter of the fiscal. Further the bank reported an increase of 6% rise in gross advances which includes home, personal, gold, car, two-wheeler and education loans along with business and mudra loans. CASA ratio stood at 34.48% at the end of December 31, 2020, from 33.38% as on September 30, 2020. - 2020-07-16 : Federal Bank Q1 net profit up 4.3%
Federal Bank net profit backed by retail loans like home, personal, gold, car and two-wheeler along with business and mudra loans rose by 4.3% to Rs 400.77 crore in Q1 June 2020 over Q1 June 2019. Further, The Bank total deposits which include fixed and recurring deposits reached Rs 1,54,937.74 crore in Q1 June 2020, registering a 16.9% growth from Q1 June 2019. - 2020-05-29 : Federal Bank reported a Q4 net profit of Rs. 301.23 crores
Federal Bank reported a 21.04% fall in its profits to Rs. 301.23 crores in the fourth quarter of 2019-20 with a sharp rise in provisions. Its net profit was ₹381.51 crores in the same period a year ago. Further, For the quarter ended March 31, 2020, the bank reported a 19.27% increase in total income to ₹4,107.95 crores from ₹3,444.04 crores a year ago backed by retail loans like home and personal loans along with business, car and mudra loans. - 2019-07-17 : Federal Bank net profit rises by 46% to Rs. 384 crores during FY19-20
Private sector lender, Federal Bank’s net profit has witnessed a 46% growth to Rs. 384 crores in the first quarter of FY 19-20. Previous year the profit stood at Rs. 262 crores. The growth is driven by stable asset quality and robust non-core income. Also, the lender has plans to achieve significant growth across its retail loan segment, including home loans and mortgage loans this year.
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