Federal Bank Reports 20% Loan Growth in Q1
Jul 03, 2024 14:33
Federal Bank's loan portfolio grew by 20% in the first quarter, with retail credit book up 25% and wholesale credit book up 14%. Deposits also rose by 20% year-on-year.
Illustration: Uttam Ghosh/Rediff.com
New Delhi, Jul 3 (PTI) Private sector lender Federal Bank on Wednesday reported a 20 per cent growth in advances at Rs 2,24,139 crore for the first quarter ended June 30.
Total advances stood at Rs 1,86,593 crore at the end of the first quarter of the last financial year, Federal Bank said in a regulatory filing.
As per internal classification, retail credit book grew by 25 per cent and wholesale credit book grew by 14 per cent, it said, adding, retail-to-wholesale ratio stood at 56:44 respectively.
The bank's deposits also rose by 20 per cent year-on-year to Rs 2,66,082 crore in the quarter, from Rs 2,22,496 crore in the same period a year ago, it said.
Federal Bank's low-cost deposits-current account and saving deposits (CASA) -- declined to 29.28 per cent from 31.85 per cent at the end of June 30, 2023.
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