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Federal
Bank net up 51.40%
James
Paul
30 October 2003
 Aluva:
Federal Bank, a private sector bank based here, has posted
a 51.40-per cent growth in net profits during the first
half of the current fiscal at Rs 77.73 crore against Rs
51.34 crore in the corresponding half year of the previous
fiscal.
The
bank's half-yearly results revealed that the bank continued
to make consistent improvements in operations and profitability,
says Federal Bank chairman K P Padmakumar. While the bank's
total income during the first half increased by 13.16
per cent, the total expenses were contained at 2.31 per
cent.
 This
enabled the bank to increase its operating profit to Rs
235.68 crore during the first six months of the current
fiscal compared to the level of Rs 160.95 crore achieved
during the corresponding period of the previous fiscal.
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