Chennai: Federal Bank continued its operating momentum with 29 per cent growth in operating profit in the quarter ended 31 December 2020.

While operating profit recorded a growth of 29.45 per cent, the bank posted ‘highest ever’ net interest income at Rs 1437, which grew by 24.42 per cent.

NRE deposits grew by 16.64 per cent, while gold loans registered a growth of 67.26 per cent.

Shyam Srinivasan, MD and CEO, said, “the Bank continues its strong operating momentum despite external turbulences. This has helped the Bank strengthen its balance sheet further. The growth in net interest margin is encouraging given the challenging operating environment.”