The commercial private sector lender expects net interest margins in the range of 3.2-3.3 percent for Q3.
Federal Bank has reduced one year deposit rates to 8.75 percent with effect from December 4. State Bank of India has also cut interest rates of three retail term deposits below Rs 1 crore by 25 basis points with effect from December 8 after ICICI Bank and HDFC Bank - cut up to 0.50 percent in maturities of up to one year.
Speaking to CNBC-TV18, Shyam Srinivasan, MD and CEO, Federal Bank says Q3 margins are unlikely to reflect lower deposit rates.
According to Srinivasan, the credit off-take remains muted. He expects the second half of the fiscal and the overall year to be better than the first half.
Going ahead, the commercial private sector lender expects net interest margins in the range of 3.2-3.3 percent for Q3.
Interview transcript to follow shortly
Federal Bank stock price
On December 08, 2014, at 14:14 hrs Federal Bank was quoting at Rs 142.95, down Rs 3, or 2.06 percent. The 52-week high of the share was Rs 153.00 and the 52-week low was Rs 72.45.
The company's trailing 12-month (TTM) EPS was at Rs 11.31 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 12.64. The latest book value of the company is Rs 81.22 per share. At current value, the price-to-book value of the company is 1.76.
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