In the June 2024 quarter, Federal Bank’s gross advances increased by 20% to ₹2,24,139 crore from ₹1,86,593 crore in the previous year, leading to an increase in share price.
On Wednesday, Federal Bank’s share price rose more than 4% to a new 52-week high after the lender published a good business update for the first quarter of FY25. Federal Bank shares increased by 4.68% to ₹183.25 on the BSE.
In the June 2024 quarter, Federal Bank reported a 20% increase in gross advances to ₹2,24,139 crore, up from ₹1,86,593 crore in the previous year. The bank’s internal classification shows that retail credit books expanded by 25% and wholesale credit books grew by 14%.
According to a regulatory filing by Federal Bank, the retail-to-wholesale ratio is 56:44
In Q1FY25, total deposits reached ₹2,66,082 crore, representing a 20% increase from ₹2,22,496 crore as of June 30, 2023. The bank’s customer deposits (excluding interbank deposits and certificates of deposit) reached ₹2,51,991 crore, a 20% increase from ₹2,10,422 crore in the same quarter last year.
Read also: Federal Bank shares: Q4 earnings better than expected; quest for next CEO intensifies; target prices
In Q1, CASA deposits increased by 9.9% YoY and 5% QoQ. The bank’s CASA ratio in Q1FY25 was 29.28%, compared to 31.85% year on year and 29.38% QoQ.
On Wednesday, Federal Bank stock was among the top gainers on the Bank Nifty index, along with HDFC Bank. All Bank Nifty members were trading in the green, with the banking index reaching new highs of more than 53,250 points.
Federal Bank’s stock price has grown more than 10% in one month and 16% year to date (YTD).
At 11:30 am, Federal Bank shares were trading 3.31% higher at ₹180.85 per share on the BSE.
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