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Advances growth healthy; CASA ratio improved 80bp QoQ

Federal Bank (FB) released its quarterly update, underlining the 2QFY25 business numbers. The key highlights are as follows:

* Gross advances grew 19.3% YoY to ~INR2.34t (4.3% QoQ). According to the internal classification of the bank, retail credit grew 23% YoY, while wholesale book posted a 13% growth YoY. With this, the share of retail in the total loan mix stood at 57% in 2QFY25.

* The total deposit base grew 15.6% YoY (1.1% QoQ) to INR2.69t. Total customer deposits grew 16% YoY (0.8% QoQ), while the CASA growth stood at 11.5% YoY (3.9% QoQ). The CASA ratio stood at 30.07%, up 80bp QoQ.

* The Certificate of Deposit grew 19.9% YoY/11.4% QoQ, while interbank deposits declined 19.5% YoY (down 3.1% QoQ).

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