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Federal Bank’s credit, deposit growth momentum robust in Q1
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₹127.55 apiece. The stock has stayed pretty much range-bound after plunging 8% when the Q4FY23 results were issued in early May.
Investors were disappointed with the bank’s NIM performance at the time. Meanwhile, investors should closely watch the trend in operational costs given Federal Bank plans to open 100 branches in FY24.
“Despite possible NIM pressure, the bank’s cost-to-income ratio is expected to improve for FY24, mainly on account of improving operational efficiencies," Dnyanada Vaidya, analyst at Axis Securities, said. Investors seem to be factoring in the optimism adequately.
Read more on livemint.comAbout this in other media
Brokerage sees 23% upside on Federal Bank; recommends ‘buy’ after Q1FY24 results; do you own? livemint.com /9 months ago
Big Movers on D-Street: What should investors do with JBM Auto, Angel One and Federal Bank? economictimes.indiatimes.com /9 months ago
Federal Bank’s NIM decline offsets Q1 positives livemint.com /10 months ago
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