Federal Bank Q1 business update: Total deposits grow over 19% YoY

Federal Bank’s total deposits for the Q1FY25 grew by 19.6% on a year-on-year basis to ₹2,66,082 crore compared to ₹2,22,496 crore in the year-ago period. The bank’s total deposits also surged by 5.4% in the first quarter compared to ₹2,52,534 crore in the preceding quarter.

The private sector lender’s customer deposits surged 19.8% to ₹2,51,991 crore from ₹2,10,422 crore in the previous year. Federal Bank’s customer deposits increased by 5% from ₹2,40,023 crore the previous quarter.

The lender’s certificates of deposit stood at ₹10,702 crore, up 16.6% from ₹9,179 crore in the same period a year ago. Interbank deposits stood at ₹3,389 crore, reflecting a 17.1% growth from ₹2,895 crore in Q1FY24.

In the June quarter of FY25 Federal Bank’s gross advances surged 20.1% on a year-on-year basis to ₹2,24,139 crore compared to ₹1,86,593 crore in the June quarter of preceding fiscal. Sequentially, the bank's gross advances also witnessed a growth of 5.4% from ₹2,12,623 crore in Q4FY24.

Federal Bank’s Current Account and Savings Account (CASA) for the quarter ended June 30 of FY25 grew by 9.9% to ₹77,901 crore compared to ₹70,854 crore in the same quarter of the preceding fiscal.

The lender’s CASA ratio for the June quarter remained flat as the company posted a ratio of 29.28% compared to 29.38% in the preceding quarter. On a year-on-year basis the bank’s CASA ratio dropped compared to 31.85% in the June quarter of FY24.

Shares of Federal Bank were trading 3.42% higher at ₹181 apiece on the NSE at 11:12 am.