Federal Bank Ltd (FEDERALBNK)

Federal Bank Reports Strong Q1 Results, Approves Fund Raise - 24 Jul, 2024

Federal Bank reports an 18% YoY jump in Q1 net profit at Rs 1,010 crore, with gross advances growing 20%. The bank also approved a fund raise of up to Rs 6,000 crore through various securities. Krishnan Venkat Subramanian was appointed as the new MD and CEO. Federal Bank is awaiting clarity on its co-branded credit card curbs from the regulator.

Federal Bank Appoints New MD & CEO - 23 Jul, 2024

The Reserve Bank of India has approved Krishnan Venkat Subramanian as the new Managing Director and Chief Executive Officer of Federal Bank, effective from September 23, 2024. Analysts at Kotak Securities and Nomura Research view this as a positive development that removes uncertainty around management succession and drives continued rerating, respectively. The stock hits a record high of Rs 203.40.

Federal Bank Appoints New MD & CEO - 22 Jul, 2024

Federal Bank announces the appointment of Krishnan Venkat Subramanian as its new Managing Director & CEO.

Federal Bank Hits Record High Amid Low Volatility Trading - 18 Jul, 2024

Federal Bank Ltd's stock has hit a record high of Rs.197.80 on BSE amid low volatility and oversold zone trading. Global brokerage UBS has assigned a price target of Rs.250 with a Buy rating.

SBI Securities Recommends Buying Federal Bank Stock - 14 Jul, 2024

SBI Securities recommends buying Federal Bank stock for three months with a target price of Rs 215, citing healthy Q1 business updates and expected improvements in asset quality and margins. The bank has seen a 12% jump in one month and 25% in three months. Trading at 1.3 multiple of estimated P/BV of FY25.

Federal Bank Shares Hit Record High Amid Upgraded Rating - 12 Jul, 2024

Federal Bank's stock hits a record high of Rs 196.60 and gains for the third consecutive session, while UBS upgrades its rating to Buy with a price target of Rs 250 due to favourable risk-reward and near-term catalysts. The bank has gained around 13.8% in the last month.

Federal Bank Partners with Bajaj Allianz Life Insurance for Bancassurance Tie-Up - 09 Jul, 2024

Federal Bank has entered into a bancassurance tie-up with Bajaj Allianz Life Insurance, allowing customers to access life insurance products across the bank's network in India. The partnership aims to drive insurance penetration and market expansion.

Federal Bank Forms Partnership with Bajaj Allianz Life Insurance - 08 Jul, 2024

Federal Bank has entered into a strategic Bancassurance partnership with Bajaj Allianz Life Insurance, expanding its insurance partners to a total of 10. This collaboration will offer Federal Bank's customers access to Bajaj Allianz Life Insurance Company's product suite.

Federal Bank Sees Strong Loan and Deposit Growth - 04 Jul, 2024

Federal Bank reports strong loan growth of 20% YoY/5% QoQ in Q1FY25, with retail advances growing by 25% YoY and wholesale loans growing by 14% YoY. The bank also saw healthy deposits growth of 20% YoY/5% QoQ. Nomura recommends buying the stock with a target price of Rs. 195 per share. Additionally, the bank plans to re-launch its co-branded credit cards business after regulatory restrictions were lifted.

Federal Bank Reports Strong Growth in Q1FY25 Metrics - 03 Jul, 2024

Federal Bank Ltd reported a strong performance in Q1FY25, with a 20.1% YoY growth in gross advances and 19.6% YoY growth in total deposits. The bank's retail credit book expanded by 25%, while the wholesale credit book saw a growth of 14%. Shares surged up to 4.7% to hit an all-time high after the announcement.

Nomura India Adds Kotak Mahindra Bank to Top Banking Picks - 25 Jun, 2024

Foreign brokerage Nomura India has added Kotak Mahindra Bank among its top banking picks, rating it as Buy. It prefers Federal Bank among mid-sized banks and has a target price of Rs 195 on the stock.