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Transcript of Federal Bank Pres
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Federal Bank Federal Bank
The Federal Bank Limited, Regd. Office, Federal Towers, Aluva, Kerala
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Federal Bank Federal Bank
Q4 and Annual ResultsFY 2009-10
I N V E S T O R P R E S E N T A T I O N
14th May 2010
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Federal Bank Federal Bank
Leading private sector bank 672 branches and 732 ATMs spread across 24 States
Customer base of over 50 Lakhs Over 4 Lakh NRI clients – over 20 % NRI Deposits Total Business crossed Rs. 63,000 Cr Multiple delivery channels through effective use of IT
Overseas Representative Office at Abu Dhabi, UAE All branches under Core Banking Solution
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Federal Bank Federal Bank
PERFORMANCE HIGHLIGHTS
For the fiscal ended March 31, 2010
Total Income increased by 9.74 % from Rs.3831.15 Cr to Rs.4204.14 Cr
Total Interest Income up by 10.79 % from Rs.3315.38 Cr to Rs.3673.23 Cr
Net Interest Income up by 7.25 % from Rs.1315.46 Cr to Rs.1410.82 Cr
Non-Interest Income up by 2.93 % from Rs.515.77 Cr to Rs.530.91 Cr
Total Expenses increased by 14.31 % from Rs.2571.37 Cr to Rs.2939.30 Cr
Interest Expenses up by 13.12 % from Rs.1999.92 Cr to Rs.2262.40 Cr
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Federal Bank Federal Bank
PERFORMANCE HIGHLIGHTS
For the fiscal ended March 31, 2010
♦ Operating Profit up by 0.40 % to Rs.1264.84 Cr from Rs.1259.78 Cr.
♦ Net Profit down by 7.18 % to Rs.464.55 Cr from Rs.500.49 Cr.
♦ Net NPA at 0.48 % (0.30 % in Mar 2009)
♦ CRAR at 17.26 % (20.14 % as on Mar 2009 )
♦ EPS at Rs.27.16 (Rs.29.26 in Mar 2009)
♦ Return on total assets at 1.15 % (1.48 % in Mar 2009)
♦ Book Value per share increased to Rs.274.22 from Rs.252.93 in Mar 2009
♦ Return on Equity at 10.30 % (12.13% in Mar 2009)
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Federal Bank Federal Bank
PERFORMANCE HIGHLIGHTS
For the fiscal ended March 31, 2010
♦ Retail Deposits up by 19.78 % to Rs.27554 Cr
♦ Total Deposits grew by 11.99 % to Rs.36057.95 Cr ♦ Net Advances grew by 20.36 % to Rs.26950.12 Cr
♦ Total Business up by 15.42 % at Rs.63008.07 Cr
♦ Investments up by 7.72 % at Rs.13054.65 Cr
♦ Cost of Deposit at 6.55 % (6.98 % in FY 09)
♦ Yield on Advances at 11.30 % (12.30 % in FY 09)
♦ Interest Yield on Investments at 6.84 % (7.27 % in FY 09)
♦ Net Interest Margin at 3.82 % (4.28 % in FY 09)
♦ Cost to Income ratio at 34.86 % (31.21 % in FY 09)
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Federal Bank Federal Bank
PERFORMANCE HIGHLIGHTS
32.35 %34.89 %Cost to Income Ratio
3.90 %4.19 %Net Interest Margin
2.35114.17116.85Net Profit
10.31318.92351.79Operating Profit
4.96697.36731.94Total Expenditure
6.641016.281083.74Total Income
(-) 13.26150.54130.59Other Income
27.66320.90409.68Net Interest Income
(-) 0.25544.84543.45Interest Expenses
10.10865.74953.14Interest Income
Y-o-y
growth (%)
Q4 March
2009
Q4 March
2010
3 Months Performance
(Rs. in Crores)
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Federal Bank Federal Bank
PERFORMANCE HIGHLIGHTS
12.30 %11.30 %Yield on Advances
6.98 %6.55 %Cost of Deposits
4.28 %3.82 %Net Interest Margin
(-) 7.18500.49464.55Net Profit0.401259.781264.85Operating Profit
14.312571.372939.29Total Expenditure
9.743831.154204.14Total Income
2.93515.77530.91Other Income
7.251315.461410.83Net Interest Income
13.121999.922262.40Interest Expenses
10.793315.383673.23Interest Income
Y-o-y
growth (%)
March
2009
March
2010
12 Months Performance
(Rs. in Crores)
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Federal Bank Federal Bank
Business Growth at a glance
38851
22392
12119
749
32198
4325.9
171.0
March 09
32506
18905
10026
792
25913
3925.7
171.0
March 08
25090
14899
7033
770
21584
1502.2
85.6
March 07
1305562725799Investments
26950117378823Advances
20643
611
17879
1250.0
85.6
March 06
4367616821Balance Sheet Size
1547186Borrowings
3605815193Deposits
4690.4723.3Net Worth
171.065.6Capital
March 10March 05
500.5
2571
3831
368.0
2116
2910
292.7
1491
2104
225.2
1428
1654
465.090.1Net Profit
29391313Total Expenses
42041403Total Income
(Rs. in Crores)
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Federal Bank Federal Bank
38850.8643675.60TOTAL
622.14657.68Other Assets
280.78289.77Fixed Assets
22391.8826950.12Advances
12118.9713054.64Investments
1222.70404.51Bal. with banks & money at call
2214.392318.88Cash & Balance with RBI
ASSETS38850.8643675.60TOTAL
1577.861380.44Other Liabilities & Provisions
748.941546.76Borrowings
32198.1936057.95Deposits4154.844519.42Reserves & Surplus
171.03171.03Capital
LIABILITIES
31st March 200931st March 2010As at
BALANCE SHEET(Rs. in Crores)
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Federal Bank Federal Bank
GROWTH IN INCOME & PROFIT
3 months (Q4 FY 10 vs Q4 FY 09) 12 months (FY 10 vs FY 09)
114.2 116.8
318.9351.8 320.9
409.7
1016.31083.7
Net Profit Operat.Profit Net. Int. Income Total Income
FY 2008-09 FY 2009-10
500.5464.5
1259.8 1264.8 1315.51410.8
3831.2
4204.1
Net Profit Operat.Profit Net. Int. Income Total Income
FY 2008-09 FY 2009-10
(Rs. in Crores)
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Federal Bank Federal Bank
OTHER INCOME
FY 2010 vs FY 2009
150.5130.6
515.8530.9
Q 4 12 months
March 2009 March 2010
216.9
286.7
394.7
515.77530.91
FY 05-06 FY 06-07 FY 07-08 FY 08-09 FY 09-10
Growth over last five years
(Rs. in Crores)
MOVEMENT OF “OTHER INCOME”
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Federal Bank Federal Bank
3.82
3.49
3.473.48
3.54
4.28
March 05 March 06 March 07 March 08 March 09 March 10
Net Interest Margin (%)
502
600
732
868
13151411
March 05 March 06 March 07 March 08 March 09 March 10
Net Interest Income (Rs. Cr)
MOVEMENT OF NII and NIM
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Federal Bank Federal Bank
32198
243051448
6445
2009
25913
194121464
5037
2008
21584
161371217
4230
2007
17879
13415930
3534
2006
360581519313477Total Deposits
266161149010423Other Deposits1831838642Demand Deposits
761128652412Savings Deposits
201020052004
Growth in Deposits(Rs. in Crores)
52%
22%
26%
CASA
Term Deposits
Certificate of Deposits +Deposits of 5 Cr and above
Constitution of Total Deposits as on 31.03.2010
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Federal Bank Federal Bank
64457611
5671 54496907
7351
23004
27554
Savings
Bank
NRI
Deposits
NRI (incl.
ONR)
Retail
Deposits
March 2009 March 2010
Growth in SB, NRI and Retail Deposits
20 %
18 %
- 4 %
(Rs. in Crores)
6.5 %
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Federal Bank Federal Bank
7051
7382
8474
22907
2009
5609
6955
6763
19327
2008
861442202996Retail Loans
849760994971S M E Advances
4213
12180
2006
105234958Large Corporate Advances
2763415277Gross Advances
20102007
SME
30.7%
Retail31.2%
Corporate
38.1%
Growth in Advances
8497
73826955
6099
4971
2006 2007 2008 2009 2010
Distribution of Advances S M E Advances
(Rs. in Crores)
Large Corporate Advance refer to advances of Rs. 25 Crore and above
The change in classification of advances is w.e.f. 01.11.2009
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Federal Bank Federal Bank
RETAIL ASSETS
Retail Assets constitute nearly 31 % of the Bank's total advances at the end of FY 2009-10 Product-wise composition of Retail Assets as at 31.03.2010
1%
3%
5%
8%
9%
4%
4%
10%
56%
Housing Loans
Gold Loans
Home Overdraft
Mortgage Loan
AAS / AAD
Car Loan
Educational Loan
Personal Loan
Others
Housing Loans form 56 % of Retail Assets
Advance against approved securities form 8 % of Retail Assets Gold Loans contribute another 10 % Personal Loans account for less than 1 % of Retail Assets
F d l B k
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Federal Bank Federal Bank
TOP 10 INDUSTRIAL EXPOSURES
474.49Chemicals, Dyes, Paints, Fertilizers, etc.4
436.71Metal & metal products (Other than Iron & Steel)5
203.76
254.44
359.88406.73
409.98
558.99
671.051729.80
Amount ofexposure
Petroleum10
Coal9
Engineering incl. electronics8Cotton Textiles
7
Food Processing6
Roads & Ports (Infrastructure)3
Iron & Steel2Power (Infrastructure)
1
SectorNo.
(Rs. in Crores)
(as on 31.03.2010)
F d l B kF d l B k
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Federal Bank Federal Bank
EXPOSURE TO SENSITIVE SECTORS
1.87 %419.591.43 %386.00Capital Markets
3.96 %886.492.26 %608.06Commercial Real Estate
% to totaladvances
Amount% to totaladvances
Amount
31.03.200931.03.2010
(Rs. in Crores)
F d l B kFederal Bank
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Federal Bank Federal Bank
TREASURY OPERATIONS
42.9939.19
76.91
56.51
0.36
14.4
1.56
-0.88
4.51
31.91
1.21
4.89
Forex G Sec SLR Equity Derivatives Mutual Fund
& others
Money Mkt
March 2009
March 2010
PROFIT FROM VARIOUS SEGMENTS
(Rs. in Crores)
Federal BankFederal Bank
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Federal Bank Federal Bank
HFT
6.12%
AFS
22.08%
HTM
71.80%
Treasury Portfolio (Rs. in Crores)
Constitution of Investments as on 31.03.2010
190
4083
8164
122476571
5676
4771
905
Mar 09
37732429Non-SLR
190190IFR
92947697of which SLR
101265230
4896
4655
241
Mar 08
13067Total Investments9382HTM
800HFT
3685HFT + AFS
2885AFS
Mar 10
Federal BankFederal Bank
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Federal Bank Federal Bank
0.48
0.560.54
0.29
0.3
Q4 FY 09 Q1 FY 10 Q2 FY 10 Q3 FY 10 Q4 FY 10
Net NPA % at end of
fiscal (last 5 years)
FY 2005 – 06 : 0.95 FY 2006 – 07 : 0.44
FY 2007 – 08 : 0.23
FY 2008 – 09 : 0.30
FY 2009 – 10 : 0.48
NPA MOVEMENT
Net NPA (%)
589.54
68.12
820.97
128.8
31.3.2009 31.3.2010
Gross NPA Net NPA
83.37 %87.34 %
FY 2009-10FY 2008-09
Provision Coverage Ratio
(Rs. in Crores)
2.97 %
2.57 %
Federal BankFederal Bank
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Federal Bank Federal Bank
759.29
292.52
96.75346.50
23.52
12 months
ended
Mar 2009
204.75234.94800.30TOTAL PROVISIONS
117.22137.04395.00Tax
38.3426.0689.93Other purposes31.6477.25413.11Loan Losses
17.55(-) 5.41(-) 97.74Investment Losses
3 months
ended
Mar 2009
3 months
ended
Mar 2010
12 months
ended
Mar 2010
BREAK UP OF TOTAL PROVISIONS
Rs. in Crores
Federal BankFederal Bank
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Federal Bank Federal Bank
Movement of Margins
31.21
4.28
7.27
6.98
12.30
FY 09
37.12
3.49
7.40
6.72
11.46
FY 08
3.823.473.483.543.35Net Interest Margin
39.85
7.38
5.55
10.16
FY 07
34.8644.6443.6039.30Cost to Income Ratio
6.847.457.548.75Yield on Investments
6.555.115.086.24Cost of Deposits
11.309.809.8610.96Yield on Advance
FY 10FY 06FY 05FY 04
%
Federal BankFederal Bank
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Federal Bank Federal Bank
General
Branches647
Service
Branches16
Asset
Recovery4
Specialised
Branches
5
Currency
Chest2
Regional
Offices
13
CorporateOffice
01RepresentativeOffice (Overseas)
732ATMs
13Regions
672Branches
CHANNELS OF DELIVERY
(as on 31.03.2010)
Federal BankFederal Bank State No.
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Federal Bank Federal Bank ANDHRA PRADESH 24
ASSAM 6
BIHAR 1
CHANDIGARH 1
CHATTISGARH 2
GOA 4
GUJARAT 8
HARYANA 8
JHARKHAND 5
KARNATAKA 48
KERALA 391
MADHYA PRADESH 3
MAHARASHTRA 63MEGHALAYA 1
NAGALAND 1
NEW DELHI 17
ORISSA 3
PONDICHERRY 2PUNJAB 6
RAJASTHAN 3
TAMILNADU 47
UTTAR PRADESH 10
UTTARANCHAL 1WEST BENGAL 17
Total 672
STATEWISE DISTRIBUTIONOF BRANCHES
Federal Bank Federal Bank
B h
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Growing NETWORKE x p a n d i n g H o r i z o n s
Branch Demographics
No. of Branches Metro 109 Urban 156 Semi urban 290 Rural 117 TOTAL 672
No. of Extn. Counters Metro 2 Urban 2 Semi urban 2
Rural 1TOTAL 7
No. of ATMs Metro 106 Urban 201
Semi urban 344 Rural 81TOTAL 732
(as on 31.03.2010)
440456
472
536
603612 672
207
256
320
391
532
617 732
Branches ATMs
31.3.04 31.3.05 31.3.06 31.3.07 31.3.08 31.3.09 31.3.10
Federal Bank Federal Bank
S SS S O
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BUSINESS DISTRIBUTION
DEPOSITSADVANCES
NO. OF BRANCHES All data as on 31.03.2010
281
391
Kerala
Outside Kerala
51.5% 48.5% KeralaOutside Kerala
58%42%
KeralaOutside Kerala
Federal Bank Federal Bank
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205.8
8920
612
6.90750
7258
2009
131.7
7432
603
5.43655
6776
2008
188.2
9387
672
6.01813
7733
2010
113.5
6756
540
4.43544
6606
2007
95.787.7Gross Profit Per Branch (in Rs. Lakhs)
58135196Business Per Branch (in Rs. Lakhs)
472456No. of Branches
3.541.39Net Profit Per Employee (in Rs. Lakhs)431
6366
2006
366Business Per Employee (in Rs. Lakhs)
6474No. of Employees
2005
EFFICIENCY NUMBERS
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Federal Bank Federal Bank
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516
276
83
5
51
101
FY 09
395
190
75
6
34
90
FY 08
287
121
49
4
30
83
FY 07
217
108
17
2
20
70
FY 06
531
268
108
5
45
105
FY 10
614228Others
211297234Total
55173135Profit on saleof securities
246Dividend Income
281917Forex Transactions
655948Exchange &Commission Income
FY 05FY 04FY 03
DETAILS OF OTHER INCOME
(Rs. in Crores)
Federal Bank Federal Bank
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How we are rated
Bonds
Certificate of Deposit
Fixed Deposits CRISIL
CRISIL
FITCH AA- (ind)
P1+
P1+
Instrument Agency Rating
Bonds CARE AA
Federal Bank Federal Bank Subsidiaries and Joint
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Subsidiaries and JointVentures
IDBI Fortis Life Insurance Co. Ltd. Bank’s Joint Venture Life Insurance Company, in association with IDBI Bank Limited and
Fortis Insurance International N.V.
Federal Bank holds 26 % equity in the J.V.
Started selling life insurance products from March 2008
FedBank Financial Services Ltd.
Fully owned subsidiary of the Bank
Marketing Retail Products of the Bank
Proposes to sell Insurance / Mutual Fund Products in the near future Retail Hubs established at major centres
Separate mechanism established for speedy and dedicated processing of loanssourced through this channel
UAE Representative Office
Representative Office at Abu Dhabi, Capital of U.A.E.
Gateway of the Bank to the whole of Middle East
Increased the reach of the bank among Non-Resident Indians in the Gulf countries
Interface between existing customers of GCC countries and Branches / Offices inIndia
Federal Bank Federal Bank
K E Y R A T I O S
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E P SE P S (Rs.)(Rs.)
RETURN ON EQUITY (%)RETURN ON EQUITY (%) RETURN ON ASSETS (%)RETURN ON ASSETS (%)
K E Y R A T I O S
28.74
32.42
29.26
27.16
Mar 07 Mar 08 Mar 09 Mar 10
21.27
13.5612.13
10.3
Mar 07 Mar 08 Mar 09 Mar 10
1.381.34
1.48
1.15
Mar 07 Mar 08 Mar 09 Mar 10
(on enlarged capital base from March ’08 onwards)
Federal Bank Federal Bank
K E Y R A T I O S
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Profit Per Employee (Rs. Lakh)Profit Per Employee (Rs. Lakh) Business Per Employee (Rs. Lakh)Business Per Employee (Rs. Lakh)
K E Y R A T I O S
4.43
5.4
6.9
6.01
Mar 07 Mar 08 Mar 09 Mar 10
544
655
750
813
Mar 07 Mar 08 Mar 09 Mar 10
0.55 0.58
0.82
0.69
Mar 07 Mar 08 Mar 09 Mar 10
Net Profit Per Branch (Rs. Crore)Net Profit Per Branch (Rs. Crore) Business Per Branch (Rs. Crore)Business Per Branch (Rs. Crore)
67
74
8994
Mar 07 Mar 08 Mar 09 Mar 10
Federal Bank Federal Bank
K E Y R A T I O S
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NET WORTH (Rs. Crore)NET WORTH (Rs. Crore)BOOK VALUE PER SHARE (Rs.)BOOK VALUE PER SHARE (Rs.)
* proposedDIVIDENDDIVIDEND
*
K E Y R A T I O S
1502
39264326
4690
Mar 07 Mar 08 Mar 09 Mar 10
175.48
229.53
252.93274.22
Mar 07 Mar 08 Mar 09 Mar 10
40% 40%
50% 50%
Mar 07 Mar 08 Mar 09 Mar 10
CAPITAL ADEQUACY RATIO (%)CAPITAL ADEQUACY RATIO (%)
13.43
22.46
20.14
17.26
Mar 07 Mar 08 Mar 09 Mar 10
Federal Bank Federal Bank
OWNERSHIP
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OWNERSHIP
Shareholding pattern as on 31.03.2010
F I I
36%
Corporate Bodies
12%
Individuals
20%
GDR
2%
Mutual Funds
17%
Financial
Institutions,
Banks, etc.
8%
Foreign
Corporate Bodies
5%
Federal Bank Federal Bank
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THANK YOU INVESTORSTHANK YOU INVESTORSTHANK YOU INVESTORSTHANK YOU INVESTORS
for your continued support and trust