Private lender Federal Bank on Monday reported its highest-ever net profit of Rs 804 crore during the quarter that ended December 2022, up 54% compared to Rs 522 crore in the same quarter in the previous fiscal year. The bank's net interest income for the quarter ended December 31, 2022, grew by 27.14% to Rs 1,956 crore from Rs 1,539 crore for the third quarter of FY23. Federal Bank's net interest margin or NIM rose to 3.49% during the December 2022 quarter, higher by 22 bps year-on-year (YoY) and 19 bps quarter-on-quarter (QoQ).

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