Federal Bank Ltd. reported Q1 FY25 net profit rose 18.3% year-on-year (YoY) to ₹1,009.53 crore. Total business rose 19.9% YoY to ₹4,86,871.33 crore, the lender said in a filing.
Net advances rose to ₹2,20,806.41 crore, from ₹1,83,487.41 crore in the year-earlier period. Net Interest Income rose by 19.5% to ₹2,291.98 crore.
Deposits rose to ₹2,66,064.69 crore, from ₹2,22,495.50 crore YoY.
The ROA & ROE of the bank for the quarter stood at 1.27% and 13.64% respectively.
Gross NPA at the end of Q1 FY25 was ₹4738.35 crore, which as a percentage to Gross Advances was 2.11%, while net NPA and as a percentage to net advances was ₹1330.44 crore and 0.60% respectively.
Provision Coverage Ratio excluding Technical Write Off was 70.79%, the bank said.
Shyam Srinivasan, Managing Director and CEO, Federal Bank in a statement said, “I am encouraged that we have had a resoundingly strong start to FY 25 and delivered our highest ever quarterly profits.”
“With an Industry leading growth in both deposits and assets we are gaining share consistently. Our overall focus of dialing up our physical and digital presence is helping us reach a larger footprint across India,” he added.
Published - July 24, 2024 10:45 pm IST
