Steady NRI deposits boost Federal Bank's liquidity

Dec 27, 2013, 01.22 PM IST

With its focus on small and medium enterprises, Abraham Chacko, executive director, Federal Bank companies in the hospitality and export sectors have performed very well and despite a few losses, the SME industry has performed well.

Tags  Federal Bank, liquidity, NRI, deposits, CCEA, FIPB, FII limit

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Steady NRI deposits boost Federal Bank's liquidity

With its focus on small and medium enterprises, Abraham Chacko, executive director, Federal Bank companies in the hospitality and export sectors have performed very well and despite a few losses, the SME industry has performed well.

Like this story, share it with millions of investors on M3

Steady NRI deposits boost Federal Bank's liquidity

With its focus on small and medium enterprises, Abraham Chacko, executive director, Federal Bank companies in the hospitality and export sectors have performed very well and despite a few losses, the SME industry has performed well.

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In what may come as sweet music to ears, Abraham Chacko, executive director,  Federal Bank says the bank is not facing any problem on its liquidity front. Speaking to CNBC-TV18, Chacko adds that non residential Indian (NRI) deposits rose when the rupee saw a steep fall in August, which aided its liquidity situation.

Also read: Federal Bk launches savings account with overdraft facility

With its focus on small and medium enterprises, Chacko says companies in the hospitality and export sectors have performed very well and despite a few losses, the SME industry has performed well.

Furthermore, Chacko is extremely confident of receiving the Cabinet Committee on Economic Affairs' (CCEA) approval to its hike in FII limit. "The FIPB has already put it up on its website and we are confident of the CCEA approval soon enough," he adds.
 
More to come.

Federal Bank stock price

On December 27, 2013, at 14:10 hrs Federal Bank was quoting at Rs 84.60, up Rs 0.55, or 0.65 percent. The 52-week high of the share was Rs 110.15 and the 52-week low was Rs 44.25.

The company's trailing 12-month (TTM) EPS was at Rs 8.93 per share as per the quarter ended September 2013. The stock's price-to-earnings (P/E) ratio was 9.47. The latest book value of the company is Rs 74.41 per share. At current value, the price-to-book value of the company is 1.14.

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