The Federal Bank Ltd.

National Storage Mechanism | Additional information

RNS Number : 4464W

Federal Bank Ltd (The)

18 August 2022

SD/ 119 /2022-23 August 18, 2022

To,

The London Stock Exchange

Dear Sir,

We enclose herewith the Un-Audited Financial Results of the Bank for the quarter ended on June 30, 2022 (both standalone and consolidated) along with Limited Review Report issued by the Joint Central Statutory Auditors of the Bank, which were reviewed and recommended by Audit Committee of the Board and duly approved by the Board of Directors at their respective meetings held on July 15,2022.

Kindly take the same on your record.

For The Federal Bank Limited

Sd/-

Samir P Rajdev

Company Secretary


Varma & Varma Chartered Accountants, No.53/2600, Kerala Varma Tower Off Kunjanbava Road, Vytilla, Kochi -682019	Borkar & Muzumdar, Chartered Accountants, 21/168 Anand Nagar Om C.H.S, Anand Nagar Lane, Off Nehru Road, Santacruz (East) Mumbai - 400 055

Limited Review Report on Unaudited Standalone Financial Results of The Federal Bank Limited for the quarter ended 30th June 2022, pursuant to the requirements of Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 (as amended)

The Board of Directors,

The Federal Bank Limited

1. We have reviewed the accompanying Statement of Unaudited Standalone Financial Results of The Federal Bank Limited ('the Bank') for the quarter ended 30th June, 2022 ('the Statement') attached herewith, being submitted by the Bank pursuant to the requirements of Regulation 33 and Regulation 52 read with Regulation 63(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 (as amended), except for the disclosures relating to Pillar 3 disclosure under Basel III Capital Regulations as at 30th June, 2022, including Leverage Ratio, Liquidity Coverage Ratio and Net Stable Funding Ratio under Basel III Capital Regulations as have been disclosed on the Bank's website and in respect of which a link has been provided in the aforesaid Statement, which have not been reviewed by us.

2. The Statement, which is the responsibility of the Bank's Management and has been approved by the Bank's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Accounting Standard-25 'Interim Financial Reporting' ('AS-25') prescribed under section 133 of the Companies Act, 2013 read with relevant rules issued thereunder, the relevant provisions of the Banking Regulation Act, 1949, the circulars, guidelines and directions issued by the Reserve Bank of India (the 'RBI') from time to time (the 'RBI Guidelines') and other accounting principles generally accepted in India. Our responsibility is to issue a report on the Statement based on our review.

3. We conducted our review of the Statement in accordance with the Standard on Review Engagement (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the statements are free of material misstatement. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

4. Our review primarily is conducted on the basis of review of the books of account and records of the Bank. We have also relied on the information and explanations furnished to us by the Bank and the returns as considered necessary by us for the review.

5. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement of Unaudited Standalone Financial Results prepared in accordance with applicable accounting standards, the RBI Guidelines and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 and Regulation 52 read with Regulation 63(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) including the manner in which it is to be disclosed, or that it contains any material misstatement or that it has not been prepared in accordance with the relevant prudential norms issued by the Reserve Bank of India in respect of income recognition, asset classification, provisioning and other related matters, except for the aforesaid Pillar 3 disclosures as at 30th June 2022, including Leverage Ratio, Liquidity Coverage Ratio and Net Stable Funding Ratio under Basel III Capital Regulations as have been disclosed on the Bank's website and in respect of which a link has been provided in the aforesaid Statement, which have not been reviewed by us.

For Varma & Varma For Borkar & Muzumdar

Chartered Accountants Chartered Accountants

FRN:004532S FRN:101569W

Vijay Narayan Govind Kaushal Muzumdar

Partner Partner

M. No. 203094 M. No. 100938

UDIN: 22203094AMWYTY3663 UDIN: 22100938AMWYSW3493

Kochi-19 Mumbai-55

15th July 2022 15th July 2022


THE FEDERAL BANK LIMITED
REGD.OFFICE: P.B.NO. 103, FEDERAL TOWERS, ALUVA-683101
(CIN: L65191KL1931PLC000368)
STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2022
(Rs. in Lakhs)
Particulars		Quarter ended			Year ended
30.06.2022	31.03.2022	30.06.2021	31.03.2022
Unaudited	Audited (Refer Note 10 below)	Unaudited	Audited
1. Interest earned (a)+(b)+(c)+(d)		3,62,886	3,48,324	3,35,571	13,66,076
(a)	Interest/discount on advances/bills	2,88,682	2,75,446	2,67,112	10,82,975
(b)	Income on investments	62,949	59,290	59,059	2,33,867
(c)	Interest on balances with Reserve Bank of India and other inter bank funds	4,480	5,614	3,662	22,027
(d)	Others	6,775	7,974	5,738	27,207
2. Other income		45,262	46,500	64,826	2,08,909
3. TOTAL INCOME (1+2)		4,08,148	3,94,824	4,00,397	15,74,985
4. Interest expended		2,02,435	1,95,803	1,93,728	7,69,880
5. Operating expenses (i)+(ii)		1,08,376	1,19,201	93,340	4,29,320
(i)	Employees cost	49,932	63,725	52,830	2,32,055
(ii)	Other operating expenses	58,444	55,476	40,510	1,97,265
6. TOTAL EXPENDITURE (4+5) (excluding provisions and contingencies)		3,10,811	3,15,004	2,87,068	11,99,200
7. OPERATING PROFIT (3-6) (Profit before provisions and contingencies)		97,337	79,820	1,13,329	3,75,785
8. Provisions (other than tax) and contingencies		16,668	7,524	63,994	1,22,177
9. Exceptional items		-	-	-	-
10. Profit from Ordinary Activities before tax (7-8-9)		80,669	72,296	49,335	2,53,608
11. Tax expense		20,603	18,242	12,606	64,626
12. Net Profit from Ordinary Activities after tax (10-11)		60,066	54,054	36,729	1,88,982
13. Extraordinary items (net of tax expense)		-	-	-	-
14. Net Profit for the period (12-13)		60,066	54,054	36,729	1,88,982
15. Paid-up Equity Share Capital (Face value Rs.2/- per Equity Share)		42,070	42,051	39,926	42,051
16. Reserves excluding Revaluation Reserve					18,36,832
17. Analytical Ratios and Other Disclosures:
(i)	Percentage of shares held by Government of India	NIL	NIL	NIL	NIL
(ii)	Capital Adequacy ratio (%)
	Under Basel III	14.57	15.77	14.64	15.77
(iii)	Earnings per Share (EPS) (in Rs)
	(a) Basic EPS (before and after extraordinary items)	2.86*	2.57*	1.84*	9.13
	(b) Diluted EPS (before and after extraordinary items)	2.83*	2.55*	1.83*	9.06
(iv)	NPA Ratios
	a) Gross NPA	4,15,533	4,13,674	4,64,933	4,13,674
	b) Net NPA	1,42,025	1,39,262	1,59,324	1,39,262
	c) % of Gross NPA	2.69	2.80	3.50	2.80
	d) % of Net NPA	0.94	0.96	1.23	0.96
(v)	Return on Assets (%)	0.27*	0.25*	0.19*	0.94
(vi)	Net Worth	19,26,696	18,66,098	16,47,906	18,66,098
(vii)	Outstanding Redeemable Preference Shares	NIL	NIL	NIL	NIL
(viii)	Capital Redemption Reserve	NIL	NIL	NIL	NIL
(ix)	Debenture Redemption Reserve	NIL	NIL	NIL	NIL
(x)	Debt - Equity Ratio #	0.82	0.82	0.57	0.82
(xi)	Total Debts to Total Assets #	7.03%	6.97%	4.67%	6.97%
(xii)	Operating Margin	23.85%	20.22%	28.30%	23.86%
(xiii)	Net Profit Margin	14.72%	13.69%	9.17%	12.00%

* Not Annualised
# Debt and Total Debts represents Total Borrowings of the Bank


Segment Information@
							(Rs.in Lakhs)
Particulars				Quarter ended			Year ended
30.06.2022	31.03.2022	30.06.2021	31.03.2022
Unaudited	Audited (Refer Note 10 below)	Unaudited	Audited
Segment Revenue:
		Treasury		54,864	49,475	79,596	2,35,130
		Corporate/Wholesale Banking		1,07,758	1,03,851	1,12,056	4,26,734
		Retail Banking		2,43,361	2,36,429	2,07,527	8,98,700
		Other Banking operations		2,123	3,400	1,218	10,800
		Unallocated		42	1,669	-	3,621
		Total Revenue		4,08,148	3,94,824	4,00,397	15,74,985
		Less: Inter Segment Revenue		-	-	-	-
		Income from Operations		4,08,148	3,94,824	4,00,397	15,74,985
Segment Results (net of provisions):
		Treasury		12,580	5,512	37,914	64,135
		Corporate/Wholesale Banking		14,505	17,497	(2,535)	55,657
		Retail Banking		51,737	44,728	12,921	1,21,015
		Other Banking operations		1,805	2,890	1,035	9,180
		Unallocated		42	1,669	-	3,621
		Profit before tax		80,669	72,296	49,335	2,53,608
Segment Assets
		Treasury		43,74,168	47,68,440	46,11,516	47,68,440
		Corporate/Wholesale Banking		82,51,948	78,58,857	70,66,184	78,58,857
		Retail Banking		91,77,241	87,98,646	77,40,698	87,98,646
		Other Banking operations		-	-	-	-
		Unallocated		7,31,922	6,68,688	5,85,373	6,68,688
		Total		2,25,35,279	2,20,94,631	2,00,03,771	2,20,94,631
Segment Liabilities
		Treasury		18,08,289	18,02,189	10,92,816	18,02,189
		Corporate/Wholesale Banking		18,10,653	18,67,906	14,68,615	18,67,906
		Retail Banking		1,66,17,656	1,62,98,555	1,55,94,228	1,62,98,555
		Other Banking operations		-	-	-	-
		Unallocated		3,59,430	2,46,597	1,99,174	2,46,597
		Total		2,05,96,028	2,02,15,247	1,83,54,833	2,02,15,247
Capital Employed:
(Segment Assets - Segment Liabilities)
		Treasury		25,65,879	29,66,251	35,18,700	29,66,251
		Corporate/Wholesale Banking		64,41,295	59,90,951	55,97,569	59,90,951
		Retail Banking		(74,40,415)	(74,99,909)	(78,53,530)	(74,99,909)
		Other Banking operations		-	-	-	-
		Unallocated		3,72,492	4,22,091	3,86,199	4,22,091
		Total		19,39,251	18,79,384	16,48,938	18,79,384
@		For the above segment reporting, the reportable segments are identified as Treasury, Corporate/Wholesale Banking, Retail Banking and Other Banking Operations in compliance with the RBI guidelines. (Also Refer Note 11) The Business operations of the Bank are substantially concentrated in India and for the purpose of Segment Reporting as per Accounting Standard-17, the bank is considered to operate only in domestic segment.

Notes:
1	The above Standalone Financial Results for the quarter ended June 30, 2022 were reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on July 15, 2022. These Results have been subjected to limited review by the Statutory Central Auditors of the Bank and an unqualified review report has been issued.

2	The Bank has followed, in all material aspects, the same significant accounting policies in the preparation of the quarterly financial results as those followed in the annual financial statements for the year ended March 31, 2022.

3	The financial results have been arrived at after considering provision for standard assets (including requirements for exposures to entities with unhedged foreign currency exposures), provision for non-performing assets (NPAs), provision for non-performing investments, provision for income-tax and other usual and necessary provisions.

4	Other income includes fees earned from providing services to customers, commission from non-fund-based banking activities, earnings from foreign exchange and derivative transactions, selling of third-party products, profit on sale of investments (net), profit / loss on revaluation of investments, dividend received from subsidiaries / associates, recoveries from advances written off etc.

5	The Capital Adequacy Ratio is computed on the basis of RBI guidelines applicable on the relevant reporting dates and the ratio for the corresponding previous period is not adjusted to consider the impact of subsequent changes if any, in the guidelines.

6	During the quarter ended June 30, 2022, the Bank has allotted 945,492 equity shares of Rs. 2 each, pursuant to the exercise of stock options by employees.

7	As per extant RBI guidelines, banks are required to make Pillar 3 disclosures including leverage ratio , liquidity coverage ratio and Net Stable Funding Ratio (NSFR) under the Basel III framework. Accordingly, such applicable disclosures have been placed on the website of the Bank which can be accessed at the following link: https://www.federalbank.co.in/regulatory-disclosures. These disclosures have not been subjected to audit or review by the Statutory Central Auditors of the Bank.

8	Disclosures as per 'Master Direction - Reserve Bank of India (Transfer of Loan Exposures) Directions, 2021' dated September 24, 2021 for the loans transferred / acquired during the quarter ended June 30, 2022 are given below:

	i) During the quarter ended June 30, 2022, the bank has not acquired any "loans not in default" through assignment of loans.

	ii) During the quarter ended June 30, 2022, the bank has not acquired any stressed loans and not transferred any loan not in default / Special Mention Accounts (SMA).

	iii) During the quarter ended June 30, 2022, the bank has not invested in Security Receipts (SR) issued by Asset Reconstruction Companies (ARC) in respect of stressed loans transferred to ARCs.

9	As permitted vide letter dated October 04, 2021 issued by RBI, during the quarter ended September 30, 2021 the Bank had opted to amortise the liability on account of revision in family pension for employees covered under the 11th Bipartite Settlement and Joint Note dated November 11, 2020, over a period not exceeding five years beginning with the financial year ended March 31, 2022, subject to 1/5 of the liability being expensed every financial year. Accordingly, during the nine months ended December 31, 2021, the Bank had charged Rs. 2,364.21 Lakhs to the Profit and Loss account and the balance unamortised expenditure amounting to Rs. 15,367.34 Lakhs was carried forward. During the quarter ended March 31, 2022, the bank had charged the entire balance unamortised family pension expenditure of Rs.15,367.34 lakhs to the Profit and Loss Account.

10	The figures for the quarter ended March 31, 2022 are the balancing figures between audited figures in respect of the financial year 2021-22 and the published year to date figures up to December 31, 2021, which were subjected to limited review.

11	As per RBI Circular DOR.AUT.REC.12/22.01.001/2022-23 dated April 07, 2022, for the purpose of disclosure under Accounting Standard 17, Segment reporting, 'Digital Banking' has been identified as a sub-segment under Retail Banking by Reserve Bank of India (RBI). However, as the proposed Digital Banking Unit (DBU) of the Bank has not yet commenced operations and having regard to the discussions of the DBU Working Group formed by Indian Banks' Association (IBA) (which included representatives of banks and RBI), held on July 14, 2022, reporting of the Digital Banking as a separate sub-segment in the Segment reporting will be done from the quarter ending September 30, 2022.

12	Previous period's figures have been regrouped / reclassified, where necessary to conform to current period's classification and also the amounts / ratios for the previous period have been regrouped / reclassified pursuant to the requirements of Master Direction on financial statements - Presentation and disclosures issued by Reserve Bank of India dated August 30, 2021, as amended and wherever considered necessary.

					SHYAM SRINIVASAN
Kochi					MANAGING DIRECTOR & CEO
July 15, 2022					(DIN: 02274773)


Varma & Varma Chartered Accountants, No.53/2600, Kerala Varma Tower Off Kunjanbava Road, Vytilla, Kochi -682019	Borkar & Muzumdar, Chartered Accountants, 21/168 Anand Nagar Om C.H.S, Anand Nagar Lane, Off Nehru Road, Santacruz (East) Mumbai - 400 055

Limited Review Report on Unaudited Consolidated Financial Results of The Federal Bank Limited for the quarter ended 30th June 2022, pursuant to the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 (as amended)

The Board of Directors,

The Federal Bank Limited

1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of The Federal Bank Limited (the 'Bank') and its Subsidiaries (the Bank and its subsidiaries together referred to as 'the Group') and its share of the net profit after tax of its Associates for the quarter ended 30th June 2022 (the 'Statement'), attached herewith, being submitted by the Bank pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('Listing Regulations'), except for the disclosures relating to consolidated Pillar 3 disclosure, as at 30th June 2022, including Leverage Ratio, Liquidity Coverage Ratio and Net Stable Funding Ratio under Basel III Capital Regulations as have been disclosed on the Bank's website and in respect of which a link has been provided in the aforesaid Statement, which have not been reviewed by us.

2. The Statement, which is the responsibility of the Bank's Management and has been approved by the Bank's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Accounting Standard -25 'Interim Financial Reporting' ('AS-25') prescribed under section 133 of the Companies Act, 2013 read with relevant rules issued thereunder, the relevant provisions of the Banking Regulation Act, 1949, the circulars, guidelines and directions issued by the Reserve Bank of India (the 'RBI') from time to time (the 'RBI Guidelines') and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.

We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33(8) of the Listing Regulations, to the extent applicable.

5. This Statement includes the results of the following entities:

a. Fedbank Financial Services Limited (Subsidiary)

b. Federal Operations and Services Limited (Subsidiary)

c. Ageas Federal Life Insurance Company Limited (Associate)

d. Equirus Capital Private Limited (Associate)

6. Based on our review conducted and procedures performed as stated in Paragraphs 3 and 4 above and based on the consideration of the review reports of other auditor referred to in Paragraph 8 below, nothing has come to our attention that causes us to believe that the accompanying Statement prepared in accordance with applicable accounting standards, the RBI Guidelines and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) including the manner in which it is to be disclosed, or that it contains any material misstatement or that it has not been prepared in accordance with the relevant prudential norms issued by the Reserve Bank of India in respect of income recognition, asset classification, provisioning and other related matters, except for the aforesaid consolidated Pillar 3 disclosures as at 30th June 2022, including Leverage Ratio, Liquidity Coverage Ratio and Net Stable Funding Ratio under Basel III Capital Regulations as have been disclosed on the Bank's website and in respect of which a link has been provided in the aforesaid Statement, which have not been reviewed by us.

7. The Statement of unaudited consolidated financial results includes the interim financial results of one subsidiary which have not been reviewed/ audited by their auditors, whose interim financial results reflects total revenues of ` 26,264.11 Lakhs and net profit after tax of ` 4,133.90 Lakhs for the quarter ended 30th June 2022, as considered in the unaudited consolidated financial results. According to the information and explanations given to us by the Management, these interim financial results are not material to the Group.

Our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of the said subsidiary, is based solely on the above reports furnished to us by the Management and the procedures performed by us as stated in Paragraphs 3 and 4 above.

Our conclusion on the Statement is not modified in respect of this matter.

8. The Statement of unaudited consolidated financial results includes the interim financial results of one subsidiary which have been reviewed by one of the Joint Auditors of the Bank, whose interim financial results reflects total revenues of ` 1,404.09 Lakhs and net profit after tax of ` 99.58 Lakhs for the quarter ended 30th June 2022, as considered in the unaudited consolidated financial results.

Our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of this subsidiary, is based solely on the reports of the aforesaid Joint Auditor as made available by the Management and the procedures performed by us as stated in Paragraphs 3 and 4 above.

Our conclusion on the Statement is not modified in respect of this matter.

9. The Statement also includes the Group's share of net profit after tax of ` 850.86 Lakhs for the quarter ended 30th June 2022 in respect of two associates, based on their interim financial results which have not been reviewed/ audited. According to the information and explanations given to us by the Management, these interim financial results are not material to the Group.

Our conclusion on the Statement is not modified in respect of this matter.

For Varma & Varma For Borkar & Muzumdar

Chartered Accountants Chartered Accountants

FRN:004532S FRN:101569W

Vijay Narayan Govind Kaushal Muzumdar

Partner Partner

M. No. 203094 M. No. 100938

UDIN: 22203094AMWYYB6862 UDIN: 22100938AMWYZY2142

Kochi-19 Mumbai-55

15th July 2022 15th July 2022


THE FEDERAL BANK LIMITED
REGD.OFFICE: P.B.NO. 103, FEDERAL TOWERS, ALUVA-683101
(CIN: L65191KL1931PLC000368)
CONSOLIDATED UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED JUNE 30, 2022
(Rs in Lakhs)
Particulars		Quarter ended			Year ended
30.06.2022	31.03.2022	30.06.2021	31.03.2022
Unaudited	Audited (Refer Note 9 below)	Unaudited	Audited
1. Interest earned (a)+(b)+(c)+(d)		3,84,309	3,68,630	3,52,498	14,38,153
(a)	Interest/discount on advances/bills	3,10,420	2,96,150	2,84,295	11,56,431
(b)	Income on investments	62,534	58,821	58,463	2,31,649
(c)	Interest on balances with Reserve Bank of India and other inter bank funds	4,480	5,614	3,662	22,027
(d)	Others	6,875	8,045	6,078	28,046
2. Other income		47,508	48,425	62,090	2,12,094
3. TOTAL INCOME (1+2)		4,31,817	4,17,055	4,14,588	16,50,247
4. Interest expended		2,10,376	2,02,995	2,00,016	7,95,938
5. Operating expenses (i)+(ii)		1,17,580	1,27,884	98,955	4,59,215
(i)	Employees cost	55,837	68,954	56,990	2,51,166
(ii)	Other operating expenses	61,743	58,930	41,965	2,08,049
6. TOTAL EXPENDITURE (4+5) (excluding provisions and contingencies)		3,27,956	3,30,879	2,98,971	12,55,153
7. OPERATING PROFIT (3-6) (Profit before provisions and contingencies)		1,03,861	86,176	1,15,617	3,95,094
8. Provisions (other than tax) and contingencies		17,521	8,394	66,911	1,30,466
9. Exceptional items		-	-	-	-
10. Profit from Ordinary Activities before tax (7-8-9)		86,340	77,782	48,706	2,64,628
11. Tax expense		22,040	19,606	13,150	68,088
12. Net Profit from Ordinary Activities after tax (10-11)		64,300	58,176	35,556	1,96,540
13. Extraordinary items (net of tax expense)		-	-	-	-
14. Net Profit for the period (12-13)		64,300	58,176	35,556	1,96,540
15. Minority interest		1,104	1,137	384	2,664
16. Share in Profit of Associates		226	1,715	504	3,103
17. Consolidated Net Profit of the group (14-15+16)		63,422	58,754	35,676	1,96,979
18. Paid-up Equity Share Capital (Face value Rs. 2/- per Equity Share)		42,070	42,051	39,926	42,051
19. Reserves excluding Revaluation Reserve					18,83,000
20. Analytical Ratios and Other Disclosures:
(i)	Percentage of shares held by Government of India	NIL	NIL	NIL	NIL
(ii)	Capital Adequacy ratio (%)
	Under Basel III	15.12	16.33	15.36	16.33
(iii)	Earnings per Share (EPS) (in Rs)
	(a) Basic EPS (before and after extraordinary items)	3.02*	2.79*	1.79*	9.52
	(b) Diluted EPS (before and after extraordinary items)	2.99*	2.77*	1.77*	9.44
(iv)	NPA Ratios
	a) Gross NPA	4,27,304	4,25,653	4,79,318	4,25,653
	b) Net NPA	1,50,582	1,47,977	1,71,242	1,47,977
	c) % of Gross NPA	2.67	2.78	3.51	2.78
	d) % of Net NPA	0.96	0.98	1.28	0.98
(v)	Return on Assets (%)	0.28*	0.27*	0.17*	0.91

* Not Annualised


Segment Information@
					(Rs. in Lakhs)
Particulars		Quarter ended
30.06.2022	31.03.2022	30.06.2021	31.03.2022
Unaudited	Audited (Refer Note 9 below)	Unaudited	Audited
Segment Revenue:
	Treasury	54,705	49,102	76,408	2,31,327
	Corporate/Wholesale Banking	1,06,784	1,02,659	1,10,684	4,22,307
	Retail Banking	2,66,605	2,58,742	2,26,278	9,78,155
	Other Banking operations	3,681	4,883	1,218	14,837
	Unallocated	42	1,669	-	3,621
	Total Revenue	4,31,817	4,17,055	4,14,588	16,50,247
	Less: Inter Segment Revenue	-	-	-	-
	Income from Operations	4,31,817	4,17,055	4,14,588	16,50,247
Segment Results (net of provisions):
	Treasury	13,000	5,713	35,345	62,722
	Corporate/Wholesale Banking	14,362	16,397	(2,737)	54,114
	Retail Banking	56,244	50,418	15,063	1,33,433
	Other Banking operations	2,692	3,585	1,035	10,738
	Unallocated	42	1,669	-	3,621
	Profit before tax	86,340	77,782	48,706	2,64,628
Segment Assets
	Treasury	43,61,104	47,63,764	45,66,638	47,63,764
	Corporate/Wholesale Banking	82,04,925	78,08,465	70,10,074	78,08,465
	Retail Banking	98,12,368	93,78,255	82,15,751	93,78,255
	Other Banking operations	620	401	-	401
	Unallocated	7,31,922	6,73,219	5,85,205	6,73,219
	Total	2,31,10,939	2,26,24,104	2,03,77,668	2,26,24,104
Segment Liabilities
	Treasury	18,56,739	18,59,584	11,11,142	18,59,584
	Corporate/Wholesale Banking	18,13,320	18,77,366	14,80,815	18,77,366
	Retail Banking	1,70,60,564	1,66,84,108	1,58,73,983	1,66,84,108
	Other Banking operations	460	364	-	364
	Unallocated	3,59,430	2,46,597	1,98,594	2,46,597
	Total	2,10,90,513	2,06,68,019	1,86,64,534	2,06,68,019
Capital Employed:
(Segment Assets - Segment Liabilities)
	Treasury	25,04,365	29,04,180	34,55,496	29,04,180
	Corporate/Wholesale Banking	63,91,605	59,31,099	55,29,259	59,31,099
	Retail Banking	(72,48,196)	(73,05,853)	(76,58,232)	(73,05,853)
	Other Banking operations	160	37	-	37
	Unallocated	3,72,492	4,26,622	3,86,611	4,26,622
	Total	20,20,426	19,56,085	17,13,134	19,56,085
@	For the above segment reporting, the reportable segments are identified as Treasury, Corporate/Wholesale Banking, Retail Banking and Other Banking Operations in compliance with the RBI guidelines. (Also Refer Note 10)
	The Business operations of the Bank are substantially concentrated in India and for the purpose of Segment Reporting as per Accounting Standard-17, the bank is considered to operate only in domestic segment.

Notes:
1	The above Consolidated Financial Results for the quarter ended June 30, 2022 were reviewed by the Audit Committee and subsequently approved by the Board of Directors at its meeting held on July 15, 2022. These Results have been subjected to limited review by the Statutory Central Auditors of the Bank and an unqualified review report has been issued.

2	The Consolidated Financial Results of the Group comprise the financial results of The Federal Bank Limited and its subsidiaries viz. Fedbank Financial Services Limited & Federal Operations and Services Limited and its associates viz. Ageas Federal Life Insurance Company Limited & Equirus Capital Private Limited.

3	There has been no material change in the accounting policies adopted during the quarter ended June 30, 2022 as compared to those followed for the year ended March 31, 2022.

4	The financial results have been arrived at after considering provision for standard assets (including requirements for exposures to entities with unhedged foreign currency exposures), provision for non-performing assets (NPAs), provision for non-performing investments, provision for income-tax and other usual and necessary provisions.

5	Other income includes fees earned from providing services to customers, commission from non-fund-based banking activities, earnings from foreign exchange and derivative transactions, selling of third-party products, profit on sale of investments (net), profit / loss on revaluation of investments, dividend received from subsidiaries / associates, recoveries from advances written off, etc.

6	The Capital Adequacy Ratio is computed on the basis of RBI guidelines applicable on the relevant reporting dates and the ratio for the corresponding previous period is not adjusted to consider the impact of subsequent changes if any, in the guidelines.

7	As per extant RBI guidelines, banks are required to make Pillar 3 disclosures including leverage ratio , liquidity coverage ratio and Net Stable Funding Ratio (NSFR) under the Basel III framework. Accordingly, such applicable disclosures have been placed on the website of the Bank which can be accessed at the following link: https://www.federalbank.co.in/regulatory-disclosures. These disclosures have not been subjected to audit or review by the Statutory Central Auditors of the Bank.

8	As permitted vide letter dated October 04, 2021 issued by RBI, during the quarter ended September 30, 2021 the Bank had opted to amortise the liability on account of revision in family pension for employees covered under the 11th Bipartite Settlement and Joint Note dated November 11, 2020, over a period not exceeding five years beginning with the financial year ended March 31, 2022, subject to 1/5 of the liability being expensed every financial year. Accordingly, during the nine months ended December 31, 2021, the Bank had charged Rs. 2,364.21 Lakhs to the Profit and Loss account and the balance unamortised expenditure amounting to Rs.15,367.34 Lakhs was carried forward. During the quarter ended March 31, 2022, the bank had charged the entire balance unamortised family pension expenditure of Rs. 15,367.34 lakhs to the Profit and Loss Account.

9	The figures for the quarter ended March 31, 2022 are the balancing figures between audited figures in respect of the financial year 2021-22 and the published year to date figures upto December 31, 2021, which were subjected to limited review.

10	As per RBI Circular DOR.AUT.REC.12/22.01.001/2022-23 dated April 07, 2022, for the purpose of disclosure under Accounting Standard 17, Segment reporting, 'Digital Banking' has been identified as a sub-segment under Retail Banking by Reserve Bank of India (RBI). However, as the proposed Digital Banking Unit (DBU) of the Bank has not yet commenced operations and having regard to the discussions of the DBU Working Group formed by Indian Banks' Association (IBA) (which included representatives of banks and RBI), held on July 14, 2022, reporting of the Digital Banking as a separate sub-segment in the Segment reporting will be done from the quarter ending September 30, 2022.

11	Previous period's figures have been regrouped / reclassified, where necessary to conform to current period's classification and also the amounts / ratios for the previous period have been regrouped / reclassified pursuant to the requirements of Master Direction on financial statements - Presentation and disclosures issued by Reserve Bank of India dated August 30, 2021, as amended and wherever considered necessary.




			SHYAM SRINIVASAN
Kochi			MANAGING DIRECTOR & CEO
July 15, 2022			(DIN: 02274773)

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