Federal Bank reports strong growth in advances and deposits in Q1 FY25

3 Jul 2024 , 03:56 PM

Federal Bank reported robust financial performance in the first quarter of FY25, with gross advances growing by 20.1% year-on-year to ₹2,24,139 Crore.

Total deposits increased by 19.6% year-on-year, reaching ₹2,66,082 Crore, driven by strong customer deposit growth. Customer deposits, excluding interbank deposits and certificates of deposit, rose to ₹2,51,991 Crore, up significantly from ₹2,10,422 Crore as of June 30, 2023.

Retail credit expanded by 25%, while wholesale credit grew by 14%, maintaining a retail-to-wholesale ratio of 56:44. CASA deposits amounted to ₹77,901 Crore, reflecting a 9.9% increase year-on-year and a 5% rise from the previous quarter.

Certificates of deposit totaled ₹10,702 Crore, marking a 16.6% increase year-on-year and a 2.6% rise quarter-on-quarter. Interbank deposits grew to ₹3,389 Crore, up 17.1% year-on-year and 62.7% quarter-on-quarter. The CASA ratio stood at 29.28%, compared to 31.85% in the previous year and 29.38% in the previous quarter.

Federal Bank’s shares were trading more than 3.59% higher at ₹181.30 apiece on the NSE at the time of writing, reflecting positive market sentiment towards its financial performance. The stock has gained a total of 42% in the last one year, and 15% since the beginning of the year.