Federal Bank advances up by 20% in Q4

Kochi-headquartered Federal Bank on Wednesday announced that its gross advances rose 20 per cent to Rs 2,12,758 crore in the March 2024 quarter from Rs 1,77,377 crore in the year-ago period. As per internal classification, the lender said retail credit book grew by 25 per cent and wholesale credit book grew by 15 per cent. Retail to wholesale ratio is at 56:44, it added.

“Total deposits reached Rs 2,52,583 crore, with a growth of 18 per cent over Rs 2,13,386 crore as of March 31, 2023. The bank’s customer deposits (Total deposits excl. Interbank deposits and certificates of deposit) aggregated to Rs 2,40,072 crore, a growth of 19 per cent over Rs 2,02,133 Crore as of March 31, 2023,” Federal Bank further stated.