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India

Federal Bank Ltd (FED.BO)

FED.BO on Bombay Stock Exchange

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Latest Key Developments (Source: Significant Developments)

IDBI Bank To Sell Up To 27% Stake In Its JV Arm IDBI Federal Life Insurance
Thursday, 6 Aug 2020 

Aug 6 (Reuters) - IDBI Bank Ltd ::ENTERED SHARE PURCHASE AGREEMENT WITH AGEAS INSURANCE INTERNATIONAL & FEDERAL BANK.AS PER AGREEMENT, TO SELL UP TO 27% STAKE IN ITS JV ARM IDBI FEDERAL LIFE INSURANCE.23% STAKE IN IFLI TO BE SOLD TO AGEAS, 4% TO FEDERAL BANK.EXPECTED TO GET UP TO 5.95 BILLION RUPEES FROM SALE OF UP TO 27% STAKE IN IFLI.  Full Article

Federal Bank To Purchase Up To 4% Stake In IDBI Federal Life Insurance
Thursday, 6 Aug 2020 

Aug 6 (Reuters) - Federal Bank Ltd ::ENTERED INTO AGREEMENT TO PURCHASE UP TO 4% STAKE IN IDBI FEDERAL LIFE INSURANCE.DEAL FOR PRICE NOT EXCEEDING 27.56 RUPEES PER EQUITY SHARE.POST PURCHASE TOTAL STAKE IN IDBI FEDERAL LIFE INSURANCE WILL INCREASE UP TO 30%.  Full Article

Federal Bank Exec Says Looking At 10% Loan Growth If Things Pick Up Towards Year End
Wednesday, 15 Jul 2020 

July 15 (Reuters) - Federal Bank Ltd , MD Shyam Srinivasan Says::DON'T VISUALIZE ANY CAPITAL RAISING IN THE NEAR FUTURE.LOOKING AT 10% LOAN GROWTH IF THINGS PICK UP TOWARDS END OF THE YEAR.  Full Article

India's Federal Bank June-Qtr Net Profit Rises
Wednesday, 15 Jul 2020 

July 15 (Reuters) - Federal Bank Ltd ::JUNE-QUARTER NET PROFIT 4 BILLION RUPEES VERSUS PROFIT OF 3.84 BILLION RUPEES YEAR AGO.CONSENSUS FORECAST FOR JUNE-QUARTER NET PROFIT WAS 3.06 BILLION RUPEES -- REFINITIV DATA.JUNE-QUARTER INTEREST EARNED 34.44 BILLION RUPEES VERSUS 32.29 BILLION RUPEES YEAR AGO.JUNE-QUARTER PROVISIONS AND CONTINGENCIES 3.95 BILLION RUPEES VERSUS 1.92 BILLION RUPEES YEAR AGO.JUNE-QUARTER GROSS NPA 2.96% VERSUS 2.84% PREV QUARTER.JUNE-QUARTER NET NPA 1.22% VERSUS 1.31% PREV QUARTER.AGGREGATE PROVISION AGAINST LIKELY IMPACT OF COVID-19 AS ON JUNE 30, 2020 STANDS AT 1.86 BLN RUPEES.  Full Article

India's Federal Bank CEO Says 35% Of Overall Book Under Moratorium As Of May 25
Thursday, 28 May 2020 

May 28 (Reuters) - Shyam Srinivasan, CEO, Federal Bank ::35% OF OVERALL BOOK UNDER MORATORIUM AS OF MAY 25.TO INCREASE STAKE IN IDBI FEDERAL LIFE INSURANCE JV.IDBI FEDERAL LIFE INSURANCE JV STAKE DEAL IS LIKELY TO CONCLUDE IN 60-90 DAYS.DONT SEE ANY TRIGGER FOR CAPITAL RAISING FOR NEXT 12 MONTHS.  Full Article

India's Federal Bank March-Quarter Profit Falls
Thursday, 28 May 2020 

May 28 (Reuters) - Federal Bank Ltd ::MARCH-QUARTER NET PROFIT 3.01 BILLION RUPEES VERSUS PROFIT OF 3.82 BILLION RUPEES YEAR AGO.MARCH-QUARTER INTEREST EARNED 33.97 BILLION RUPEES VERSUS 30.32 BILLION RUPEES YEAR AGO.MARCH-QUARTER PROVISIONS AND CONTINGENCIES 5.68 BILLION RUPEES VERSUS 1.78 BILLION RUPEES YEAR AGO.MARCH-QUARTER GROSS NPA 2.84% VERSUS 2.99% PREVIOUS QUARTER.MARCH-QUARTER NET NPA 1.31% VERSUS 1.63% PREVIOUS QUARTER.MAKES 630.3 MILLION RUPEES OF COVID-19 PROVISIONS.  Full Article

Federal Bank To Buy Additional 4% In IDBI Federal Life Insurance Co
Tuesday, 21 Apr 2020 

April 21 (Reuters) - Federal Bank Ltd ::BOARD APPROVED, IN PRINCIPLE, TO BUY ADDITIONAL STAKE OF UP TO 4% IN IDBI FEDERAL LIFE INSURANCE CO FROM IDBI BANK.CURRENTLY HOLDS 26% IN IFLIC, STAKE MAY INCREASE TO 30% AFTER DEAL.  Full Article

Federal Bank Approves Investment Of 1.48 Bln Rupees In Unit Fedbank Financial Services
Monday, 30 Mar 2020 

March 30 (Reuters) - Federal Bank Ltd ::APPROVED INVESTMENT OF 1.48 BILLION RUPEES IN CO'S UNIT FEDBANK FINANCIAL SERVICES THROUGH RIGHTS ISSUE.  Full Article

Yes Bank Administrator Says Will Aim To Build Retail Portfolio To 60% From Current 40%
Tuesday, 17 Mar 2020 

March 17 (Reuters) - Yes Bank Administrator Prashant Kumar, SBI chairman Rajnish Kumar::YES BANK ADMINISTRATOR KUMAR SAYS BANK WAS HAVING HIGHER INFLOWS INSTEAD OF OUTFLOWS IN LAST FOUR DAYS.SBI CHAIRMAN SAYS YES BANK WOULD HAVE TO BE KEPT IN MORATORIUM LONGER IF WE HAD WAITED FOR FOREIGN INVESTORS.YES BANK ADMINISTRATOR KUMAR SAYS NEED TO EXAMINE IF THERE WAS UNDER-REPORTING OF BAD LOANS.YES BANK ADMINISTRATOR KUMAR SAYS LOOKING AT MOVING AWAY FROM OVER-DEPENDENCE ON BULK DEPOSIT.YES BANK ADMINISTRATOR KUMAR SAYS BUILDING UP DEPOSITS IS A "BIG CONCERN".YES BANK ADMINISTRATOR KUMAR SAYS HAVE SUFFICIENT FUNDING LINES TO MEET ANY EVENTUALITY.YES BANK ADMINISTRATOR SAYS WILL AIM TO BUILD RETAIL PORTFOLIO TO 60% FROM CURRENT 40%.YES BANK LTD ADMIN SAYS CAPITAL RAISED IN CURRENT ROUND TO TAKE CARE OF CAPITAL REQUIREMENT, SECOND ROUND OF CAPITAL RAISING TO BE FOR GROWTH.YES BANK LTD ADMIN SAYS EXPECTING RECOVERY OF 85 BILLION RUPEES TO 100 BILLION RUPEES IN NEXT FISCAL.SBI CHAIRMAN SAYS J SWAMINATHAN AND PARTHA PRATIM SENGUPTA FROM SBI TO BE ON YES BANK'S BOARD.  Full Article

India's Federal Bank Sept-Qtr Net Profit Rises
Wednesday, 16 Oct 2019 

Oct 16 (Reuters) - Federal Bank Ltd ::SEPT QUARTER NET PROFIT 4.17 BILLION RUPEES VERSUS PROFIT OF 2.66 BILLION RUPEES YEAR AGO.CONSENSUS FORECAST FOR SEPT QUARTER NET PROFIT WAS 4.07 BILLION RUPEES.SEPT QUARTER INTEREST EARNED 32.54 BILLION RUPEES VERSUS 27.65 BILLION RUPEES YEAR AGO.SEPT QUARTER PROVISIONS AND CONTINGENCIES 2.52 BILLION RUPEES VERSUS 2.89 BILLION RUPEES YEAR AGO.SEPT QUARTER GROSS NPA 3.07% VERSUS 2.99% PREVIOUS QUARTER.SEPT QUARTER NET NPA 1.59% VERSUS 1.49% PREVIOUS QUARTER.  Full Article

BRIEF-IDBI BANK To Sell Stake In Insurance JV to Ageas, Federal Bank

* BOARD APPROVES SALES OF 26% STAKE IN IDBI FEDERAL LIFE INSURANCE CO LTD TO AGEAS- STATEMENT