MUMBAI: Federal Bank has reported highest ever net profit of Rs 954 crore for the September quarter, up 36% from Rs 703 crore in the year-ago period. The increase in net profit followed a 20% year-on-year increase in loans to Rs 1.9 lakh crore and a 23% growth in deposits to Rs 2.3 lakh crore. Gross NPAs of the Bank stood at Rs 4,436 crore at the end of Q2 FY23 – 2.3% of gross advances.
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