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Kerala-based Federal Bank needs more insurance against covid-19

India covid-19 pandemic
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Mid-sized Federal Bank’s fourth quarter performance had mixed signs of what lies ahead. While the lender reported strong operating metrics, the potential pressure on asset quality due to covid-19 pandemic should give investors reason to worry.

First the good news. The bank’s operating performance was strong with pre-provisioning operating profit growing by 27%. This is notable since operating profit growth was in low single digits for the past two quarters.

The bank has increased provisions which brought down its net bad loan ratio from a year ago period. Further, Federal Bank also set aside ₹93 crore towards specific risks expected from covid-19 pandemic.

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Brazil
Cases: 21 835 785
Deaths: 608 235
Recovered: 0
United Kingdom
United Kingdom
Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
Russia
Cases: 8 494 589
Deaths: 237 619
Recovered: 0
Detail statistic
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Covid-19.rehab - the latest news concerning the spread of the SARS-CoV-2 coronavirus (formerly 2019-nCoV), as well as the infectious disease that it causes COVID-19, in separate countries and in the world as a whole. Current news on the topic of coronavirus SARS-CoV-2. Quarantine, pandemic 2020, epidemic: what is it, when will it come to end, precautions and how to protect yourself from this disease. The most honest news, no fakes! To keep up with the latest news, stay tuned for updates on the site! Every day we will collect news and statistics on coronavirus from around the world for you to be aware of this topic.

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