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The Bank’s CASA deposits stood at Rs 80,923 crore as of 31 September 2024, up 11.5% from Rs 72,589 crore as of 31 March 2023. CASA ratio reduced to 30.07% as of September 2024 as against 31.17 % recorded in same period last year.
The bank's customer deposits (total deposits excluding interbank deposits and certificates of deposit) aggregated to Rs 2,53,973 crore as of 30 September 2024, recording a growth of 16% YoY.
Certificate of deposit increased 19.9% to Rs 11,917 crore in Q2 FY24 as against Rs 9,940 crore posted in Q2 FY23. Interbank deposits fell 19.5% to Rs 3,215 crore as of 30 September 2024 over Rs 3,993 crore recorded in the same period a year ago.
The bank's gross advances grew by 19.32% to Rs 2,33,825 crore from Rs 1,95,968 crore as of 30 September 2023. As per internal classification, retail credit book increased by 23% and wholesale credit book grew 13%. Retail to Wholesale ratio is at 57:43 respectively.
Federal Bank operates through four segments: treasury, corporate or wholesale banking, retail banking and other banking operations. The bank has 1418 branches and 1960 ATMs/ recyclers as on 31 December 2023.
The company’s consolidated net profit increased 16.17% to Rs 1,027.51 crore on 25.4% jump in Total income to Rs 7,663.65crore in Q1 FY25 over Q1 FY24.
Shares of Federal Bank slipped 3.51% to Rs 186.90 on the BSE.
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