Result Update

Federal Bank The net profit of Federal Bank has grown by 28 % to Rs.69.46 crore for the second quarter of current year as against Rs.54.16 crore for same period last year. While gross NPA is down to 4.13% as against 5.97%, Net NPA is down to 0.67% as against 1.60%. The capital adequacy ratio stands at 12.80%. The total business grew by 21.71% to Rs.31,002 crore. Deposits grew 14.5% to Rs.18,288 crore and advances grew to Rs.12,714 crore. The above results does not include the results of Ganesh Bank of kurundwad which Federal Bank took over recently. ICICI Bank The bank has reported a 30% rise in net profit at Rs.755.01 crore in second quarter against Rs.580.05 crore in the same period last year. The advances stood at Rs.1,55,403 crore at September 2006 as against Rs.1,07,070 as at September 2005. The deposits stood at Rs.1,89,499 crore at September 2006 as against Rs.1,20,452 as at September 2005. In the second quarter, the bank raised hybrid Tier I capital worth $340 million from international markets and Rs.800 crore from the domestic markets. It also picked up Rs.1,200 crore through issue of upper Tier II bonds in the local market. The average interest cost of the domestic Tier I capital is about 10% and that of upper Tier II capital is 9.25%. The Capital Adequacy ration of the bank is 14.34%.