Federal Bank Q1 FY25: logs 20.1% growth in gross advances
Federal Bankhas reported a 20.1 per cent year-on-year (yoy) growth in gross advances and 19.6 per cent yoy growth in total deposits in the first quarter (Q1) of FY25.
As on June-end 2024, the Ernakulam (Kerala) headquartered private sector bank’s gross advances stood at ₹2,24,139 crore (₹1,86,593 crore as on June-end 2023), per the Bank’s provisional quarterly business update.
As per internal classification, retail credit book grew by 25 per cent and wholesale credit book grew by 14 per cent.
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Retail to wholesale loan mix in gross advances was at 56 per cent (54.2 per cent year ago quarter) and 44 per cent (45.8 per cent), respectively, the Bank said.
As on June-end 2024, the bank’s total deposits stood at ₹2,66,082 crore (₹2,22,496 crore).
The share of low-cost current account, savings account (CASA) deposits declined to 29.27 per cent of total deposits as at June-end 2024 against 31.84 per cent as at June-end 2023.