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Federal Bank's CASA deposits stood at Rs 74,249 crore as of 31 March 2024, up 6.5% from Rs 69,741 crore as of 31 March 2023. CASA ratio reduced to 29.40% as of March 2024 as against 32.68% recorded in same period last year.
The bank's customer deposits (total deposits excluding interbank deposits and certificates of deposit) aggregated to Rs 2,40,072 crore as of 31 March 2024, recording a growth of 18.8% YoY.
Certificate of deposit increased 10.2% to Rs 10,428 crore in Q4 FY24 as against Rs 9,461 crore posted in Q4 FY23. Interbank deposits rose 16.3% to Rs 2,083 crore as of 31 March 2024 over Rs 1,792 crore recorded in the same period a year ago.
The bank's gross advances grew by 19.9% to Rs 2,12,758 crore from Rs 1,77,377 crore as of 31 March 2023. As per internal classification, retail credit book increased by 25% and wholesale credit book grew 15%. Retail to Wholesale ratio is at 56:44 respectively.
Federal Bank operates through four segments: treasury, corporate or wholesale banking, retail banking and other banking operations. The bank has 1418 branches and 1960 ATMs/ recyclers as on 31 December 2023.
The private bank's standalone net profit jumped 25.28% to Rs 1,006.74 crore on 32.72% increase in total income to Rs 6,592.66 crore in Q3 FY24 over Q3 FY23.
Shares of Federal Bank rose 0.49% to end at Rs 154.65 on the BSE.
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