Private sector lender, Federal Bank has booked growth worth 47% in net profits for the last quarter of the fiscal just ended. Also it posted a rise in net interest income (NII) by as much as 9%.

The net interest margin (NIM) has however declined to 4.22%.

The factor which concerns the bank is that its non performing assets (NPAs) have risen for the last quarter as well as for the entire last fiscal.

The bank thus mainly plans to bring down its NPA level.

Speaking on the issue, Mr Shyam Srinivasan, CEO and Managing Director said that the bank plans to bring down NPA level below 3% in this financial year.