Federal Bank records 20% loan growth in Q1
The Hindu
Private sector lender Federal Bank on Wednesday reported a 20% growth in advances at ₹2,24,139 crore for the first quarter ended June 30.
Private sector lender Federal Bank on Wednesday reported a 20% growth in advances at ₹2,24,139 crore for the first quarter ended June 30.
Total advances stood at ₹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% and wholesale credit book grew by 14%, it said, adding, retail-to-wholesale ratio stood at 56:44 respectively.
The bank's deposits also rose by 20% year-on-year to ₹2,66,082 crore in the quarter, from ₹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% from 31.85% at the end of June 30, 2023.
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