Federal Bank expects NIMs to remain stable in FY15

Federal Bank is expecting Net Interest Margin (NIMs) to remain stable in the range of 3.3-3.35% in FY15. The private sector lender is expecting the credit growth momentum to continue going ahead. The bank is well capitalized and is not looking to raise funds at this point of time. The bank has reported a rise of 24.93% in its net profit after tax at Rs 277.29 crore for the quarter ended March 31, 2014 as compared to Rs 221.94 crore for the same quarter in the previous year. Total income of the bank has increased by 13.30% at Rs 2017.12 crore for quarter under review as compared to Rs 1780.31 crore for the quarter ended March 31, 2013.