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Federal
Bank Q4 net up 96 per cent; recommends 40 per cent dividend
Our
Banking Bureau
18 May 2007
Mumbai:
Federal
Bank has reported a 95.6 per cent growth in its net profit
at Rs99.25 crore for the fourth quarter ended March 2007
as compared to Rs50.73 crore for the corresponding quarter
of the previous fiscal.
The
board of directors has recommended a dividend of 40 per
cent on equity shares.
Total
income rose 38.38 per cent to Rs636.63 crore for the three
months ended March 2007, as against Rs460.04 crore for
the same period in 2006, Federal Bank said in a filing
with the Bombay Stock Exchange (BSE).
For
the financial year ended March 2007, the bank posted a
net profit of Rs292.73 crore, up 30 per cent, against
Rs225.21 crore for the previous year. Total income increased
by over 27 per cent to Rs2,104.04 crore from Rs1,653.48
crore in 2005-06.
Incorporated
in 1931, the Kochi-based Federal Bank is one of the oldest
private sector banks in India having significant presence
in Kerala. The bank has a network of 470 branches as of
April  2006.
The bank has set up a wholly owned merchant banking subsidiary
- Fedbank Financial Services.
Shares
of the Federal Bank were last trading at Rs276.85, up
2.42 per cent on the BSE.
Other
reports on Federal Bank
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