Subscribe

0

  • Sign in with Email

By clicking the button, I accept the Terms of Use of the service and its Privacy Policy, as well as consent to the processing of personal data.

Don’t have an account? Signup

  • Bookmarks
  • My Profile
  • Log Out
  • NEWS
  • POLICIES
  • MSME OPPORTUNITIES
  • BANKING & FINANCE
  • TECHNOLOGY FOR SMES
  • SECTORS
  • GLOBAL
  • Investment
  • LEGAL
  • KNOWLEDGE QUEST
  • Future Ready Forum 2025
  • Ek Nayi Udaan
  • Future Ready Summit 2024
  • ADVERTISE WITH US
ad_close_btn
  • News
  • Policies
  • Banking & Finance
  • MSME Opportunities
  • Web Stories
  • InFocus
  • Technology For SMEs
  • Sectors
  • Global
  • Fashion

Powered by :

You have successfully subscribed the newsletter.
InFocus Banking & Finance

Federal Bank Reports 19.92% Growth in Total Business

On the Asset side, Net advances increased from Rs 183487.41 Cr as on 30th June 2023 to Rs. 220806.64 Cr on 30th June 2024. Retail Advances grew by 19.75 % to reach Rs.70020.08 Cr.

author-image
SMEStreet Edit Desk
24 Jul 2024 15:47 IST

Follow Us

New Update
Shyam Srinivasan
Listen to this article
0.75x 1x 1.5x
00:00 / 00:00

Federal Bank announced the Financial Results for the quarter ended 30th June 2024. The key highlights of the results on a Y-o-Y basis are as follows:

  • Total Business of the Bank reached Rs. 486871.33 Cr 

  • Net Profit highest ever @ Rs.1009.53 Cr, grew 18.25 %

  • Operating Profit highest ever @ Rs. 1500.91 Cr

  • ROA for Q1 stood at 1.27 % and ROE stood at 13.64 %

  • GNPA and NNPA brought down to 2.11% and 0.60 % respectively.

  • Total Deposits increased by 19.58 %

  • Total Net Advances increased by 20.34 %

  • Net Interest Income at ₹ 2291.98 Cr, grew by 19.46 %

WORKING RESULTS AT A GLANCE                     (Rs.in Cr)

Particulars

Q1

Q1

% y-o-y growth

2024-25

2023-24

Net Profit

1009.53

853.74

🡹18.25%

Total Income

7246.06

5756.94

🡹25.87%

Operating Profit

1500.91

1302.35

🡹15.25%

Net Interest Income

2291.98

1918.59

🡹19.46%

Total Business

486871.33

405982.91

🡹19.92%

Strong Growth – Resilient Balance Sheet Performance

Total Business of the Bank reached Rs. 486871.33 Cr registering a growth of 19.92 % as on 30th June 2024. 

Total Deposits increased from Rs. 222495.50 Cr as on 30th June 2023 to Rs.266064.69 Cr as on 30th June 2024.

On the Asset side, Net advances increased from Rs 183487.41 Cr as on 30th June 2023 to Rs. 220806.64 Cr on 30th June 2024. Retail Advances grew by 19.75 % to reach Rs.70020.08 Cr. Business Banking advances grew by 20.45 % to reach Rs.18159.34 Cr. Commercial Banking grew by 23.71 % to Rs.22687 Cr. Corporate Advances registered a growth of 12.20 % to reach Rs.76588.62 Cr. The CV/ CE advances grew by 51.73 % to reach Rs 3728 Cr.

Highest Ever Operating Profit and Net Profit 

The Bank registered Operating Profit of Rs.1500.91 Cr and Net Profit of Rs.1009.53 Cr for the quarter ended 30th June 2024. Operating profit recorded a growth of 15.25 % on a year-on-year basis

Remarkable Income Parameters

Net Interest Income grew 19.46 % from Rs. 1918.59 Cr to Rs.2291.98 Cr as on 30th June 2024. Total income of the Bank grew 25.87 % to reach Rs.7246.06 Cr. Earnings per share (EPS) annualized is Rs 16.60.

Key Ratios

ROA & ROE of the Bank for the quarter stood at 1.27 % and 13.64 % respectively. 

Robust Asset Quality 

Gross NPA of the Bank as at the end of Q1 FY25 stood at Rs. 4738.35 Cr, 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 Cr and 0.60% respectively. Provision Coverage Ratio excluding Technical Write Off was 70.79 %.

Net Worth & Capital Adequacy

Net worth of the Bank increased from Rs. 22247.75 Cr to Rs.30300.84 Cr, 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.

Footprint

The Bank has 1518 banking outlets and 2041 ATMs and Cash Recyclers as on 30th June 2024. 

Growing Brand Salience

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.

MAJOR FINANCIAL INDICATORS (Standalone Nos)                                                         (Rs. in Cr)

Business Figures

As on 30.06.2024

As on 30.06.2023

Growth (%)

Total Deposits

266064.69

222495.50

🡹19.58 %

Net Advances

220806.64

183487.41

🡹20.34 %

CB Advances

22687.00

18339.01

🡹23.71 %

Retail Advances

70020.08

58472.85

🡹19.75 %

Corporate Advances

76588.62

68261.62

🡹12.20 %

Business Banking Advances

18159.34

15075.68

🡹20.45 %

Agri Advances

30189.00

23278.76

🡹29.68 %

Capital

Equity Capital

489.53

423.60

Net Worth

30300.84

22247.75

🡹36.20 %

Capital Adequacy (%)

15.57

14.28

Tier I (%)

14.17

12.54

Tier II (%)

1.40

1.74



Banking Federal Bank
Subscribe to our Newsletter! Be the first to get exclusive offers and the latest news
logo

Related Articles
Read the Next Article
Latest Stories
Subscribe to our Newsletter! Be the first to get exclusive offers and the latest news

Latest Stories
Latest Stories
    Powered by


    Subscribe to our Newsletter!




    Powered by
    Select Language
    English

    Share this article

    If you liked this article share it with your friends.
    they will thank you later

    Facebook
    Twitter
    Whatsapp

    Copied!