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.
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