INSUBCONTINENT EXCLUSIVE:
Federal Bank logged a net profit of Rs 334 crore in three months to December 31Private-sector lender Federal Bank posted a 28.3 per cent
jump in third-quarter profit on Thursday, as a healthy increase in interest income helped offset impact of higher provisions.Net profit was
Rs 334 crore ($46.82 million) in three months to December 31, compared to Rs 260 crore a year earlier, Kerala-based bank said.That compares
to analysts' average estimates of a profit of Rs 297 crore, data from Refinitiv showed.Asset quality was largely stable, with gross bad
loans as a percentage of total loans at 3.14 per cent at end of December, compared to 3.11 per cent in previous quarter and 2.52 per cent a
year earlier.Interest earned rose 18.1 per cent to Rs 2,954 crore, while provisions climbed 17 per cent.Shares in Federal Bank declined as
much as 4 per cent on Thursday
