Federal Bank, a private sector lender, today announced that the bank has reduced the base rate to 9.63% per annum from 9.95 % per annum effective from Dec. 01, 2015.

The bank's net profit declined 32.9% to Rs 1.61 billion on a marginal rise of 0.9% in total income to Rs 20.84 billion for the quarter ended September 2015.

Shares of the bank declined Rs 0.4, or 0.7%, to trade at Rs 56.55.

Total volume of shares traded on the bourses today was lower by 91.82% to 522,769 compared with 22-day average volume of 6,389,257.