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On a standalone basis, Federal Bank reported 29 per cent rise in net profit at Rs 854 crore.
Earlier in the day, a business portal reported, quoting sources, that the bank was in talks with for a merger.
Basheer constructed his first home at Thalayolaparambu in Kerala's Kottayam district. That property now houses a bank.
The Federal Bank is set to launch a digital payment system for auto, taxi and other transactions in the village. This initiative is part of the bank's Corporate Social Responsibility (CSR) scheme to adopt the Venmani village.
Net profit was Rs 2.66 billion in the quarter ended September 30, compared with Rs 2.64 billion a year earlier.
The India Ratings report said that Federal Bank and South Indian Bank may be hit by NPAs but added they will cover up as they have ample profits.