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Buy this Midcap Banking Stock, Says Broking Firm Sharekhan for the target of Rs 120

Fedral Bank

Federal Bank reported strong operating performance for Q1FY2023 despite muted treasury performance. Net interest income (NII) grew by 13% yoy and 5% qoq, led by healthy net advances growth of 17% yoy and improvement in NIMs. Core fee income grew by 73% yoy on a lower base. Other income fell by 96% yoy due to lower treasury gains and loss on revaluation of investments.  Read More

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