Federal Bank Q1FY25 net profits grows 18% YoY to Rs 1009 cr
Mumbai: Federal Bank registered net profit of Rs 1009.53 crore for the quarter ended 30th June 2024, up 18.25 % YoY.
Bank’s operating profit recorded a growth of 15.25 % on a year-on-year basis.
Net Interest Income (NII) grew 19.46 % from Rs. 1918.59 crore to Rs.2291.98 crore as on 30th June 2024. Total income of the Bank grew 25.87 % to reach Rs.7246.06 crore. Earnings per share (EPS) annualized is Rs 16.60.
Total business of the bank reached Rs. 486871.33 crore, registering a growth of 19.92 % as on 30th June 2024.
Total Deposits increased from Rs. 222495.50 crore as on 30th June 2023 to Rs.266064.69 crore as on 30th June 2024.
On the Asset side, net advances increased from Rs 183487.41 crore as on 30th June 2023 to Rs. 220806.64 crore on 30th June 2024. Retail Advances grew by 19.75 % to reach Rs.70020.08 crore.
Business Banking advances grew by 20.45 % to reach Rs.18159.34 crore. Commercial Banking grew by 23.71 % to Rs.22687 crore.
Corporate Advances registered a growth of 12.20 % to reach Rs.76588.62 crore. The CV/ CE advances grew by 51.73 % to reach Rs 3728 crore.
ROA & ROE of the Bank for the quarter stood at 1.27 % and 13.64 % respectively.
Gross NPA of the Bank as at the end of Q1 FY25 stood at Rs. 4738.35 crore, which as a percentage to Gross Advances stood at 2.11 %.
The Net NPA and Net NPA as a percentage to Net Advances as on 30th June 2024 stood at Rs. 1330.44 crore and 0.60% respectively. Provision Coverage Ratio excluding Technical Write Off was 70.79 %.
Net worth of the bank increased from Rs. 22247.75 crore to Rs.30300.84 crore, as on 30th June 2024.
Capital Adequacy Ratio (CRAR) of the Bank, computed as per Basel III guidelines stood at 15.57 % as at the end of the quarter.
The bank has 1518 banking outlets and 2041 ATMs and Cash Recyclers as on 30th June 2024.
An expanding distribution footprint across physical and digital assets is backed by amped up initiatives to increase the visibility for the brand. There is an active increase in salience across segments and geographies being pursued by Federal Bank.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
Related Articles
CRR cut, AI ethics push, and SORR benchmark: Experts hail RBI’s pragmatic policy moves
Mumbai: The Reserve Bank of India (RBI) has kept the repo rate unchanged at 6.5% while the cash reserve ratio (CRR) has been slashed by 50 basis points to 4 percent, media reports said.
JP Morgan gives 'overweight' rating to Adani Group bonds
Mumbai: US investment bank JP Morgan has assigned an 'overweight' rating to four bonds issued by the Adani Group, citing the group's capacity to scale and grow through internal cash flows, which reduces the likelihood of credit stress.
LG Electronics files DRPH with SEBI; IPO size expected to be over RS 15,000 cr
Mumbai: South Korean electronics giant LG Electronics has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) on Friday for the proposed public listing of its Indian business, according to a notification on the Bombay Stock Exchange (BSE).
De-dollarisation not on India's agenda; derisking domestic trade is: RBI Governor Shaktikanta Das
Mumbai: India has not initiated any steps towards de-dollarisation and is solely focused on mitigating risks to domestic trade from geopolitical uncertainties, Reserve Bank of India (RBI) Governor Shaktikanta Das clarified on Friday, media reports said.
Latest News
No third party involved: India govt sources refute China’s Operation Sindoor ceasefire claim
Priyanka Gandhi Vadra’s son Raihan gets engaged — all about his fiancée Aviva Baig
Ganga is here: Nayanthara’s first look from Yash-starrer Toxic unveiled
LG’s home robot is coming: CES 2026 reveal promises a ‘zero labour home’
