Federal Bank net profit at Rs. 264 cr

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Gross non-performing assets rose to Rs 316 crore as at September-end 2017 against Rs 255 crore in the year-ago period.

While retaining buy call on the stock, Bank of America Merrill Lynch cut its target price to Rs 590 from Rs 650 per share and estimated Rs 12,000 crore of further new slippages in second half of FY18.

During the reporting quarter, deposits were up 16 per cent yoy at Rs 20,567 crore.

Mumbai: Small sized private sector lender DCB Bank on Monday reported 21 per cent rise in its September quarter net at Rs 59 crore on core income growth, but reported a spurt in retail bad loans.

The company's market valuation also dropped by Rs 11,709.33 crore to Rs 1,11,338.67 crore.

The stock was the worst performer among the bluechips on both the key indices during the day.

The bank had posted a net profit of Rs 319 crore for the July-September period of 2016-17.

Percentage of net NPAs also increased to 3.12 per cent in Q2FY18 against 2.30 per cent in Q1FY18.

The gross NPAs were reported at Rs 27,402 crore against Rs 22,031 crore in the previous quarter and the ratio came in at 5.9 percent against 5.03 percent in the previous quarter.

Total income increased to Rs 13,821 crore in the period under review from Rs 13,698.7 crore for the quarter ended September 30, 2016, Axis Bank said in a statement.

Its gross non-performing assets ratio moved up to 1.80 per cent from the 1.75 per cent past year and as a result fresh slippages came in at Rs 77.5 crore and were driven by the retail loans, including mortgages and commercial vehicles, Natrajan said.



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