Federal Bank surges on registering 20% rise in gross advances in first quarter of FY25
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The Federal Bank is currently trading at Rs. 181.35, up by 6.30 points or 3.60% from its previous closing of Rs. 175.05 on the BSE.
The scrip opened at Rs. 177.00 and has touched a high and low of Rs. 183.25 and Rs. 177.00 respectively. So far 913480 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 183.25 on 3-July-2024 and a 52 week low of Rs. 126.45 on 13-Jul-2023.
Last one week high and low of the scrip stood at Rs. 183.25 and Rs. 173.95 respectively. The current market cap of the company is Rs. 44424.69 crore.
The Institutions and Non-Institutions held 73.73% and 26.27% stake in the company respectively.
Federal Bank’s gross advances stood at Rs 2,24,139 crore (provisional) as of June 30, 2024 (Q1FY25), posting a 20.1% rise in year-on-year (YoY) terms against Rs 1,86,593 crore as of June 30, 2023. Total deposits grew 19.6% to Rs 2,66,082 crore (provisional) as of June 30, 2024, as compared to Rs 2,22,496 crore as of June 30, 2023.
CASA stood at Rs 77,901 crore (provisional) as of June 30, 2024, posting a 9.9% rise in year-on-year terms against Rs 70,854 crore as of June 30, 2023. Customer deposits stood at Rs 2,51,991 crore (provisional) as of June 30, 2024, posting a 19.8% rise in year-on-year terms against Rs 2,10,422 crore as of June 30, 2023. CASA Ratio stood at 29.28% as of June 30, 2024 versus 31.85% as of June 30, 2023.
Federal Bank is a major Indian commercial bank in the private sector headquartered at Aluva, Kerala having more than thousand branches and ATMs spread across different States in India. It offers personal, corporate, NRI, SME banking, online banking services to its customers.
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