Last updated: October 7, 2024 | 11:04 AM IST
The Federal Bank reported that total deposits stood at Rs 2,69,105 crore as of September 2024, compared to Rs 2,32,868 crore as of September 2023, an increase of 15.6%.
Banks’ CASA deposits stood at Rs 80,923 crore as on September 31, 2024, an increase of 11.5% from Rs 72,589 crore as on March 31, 2023. The CASA ratio decreased to 30.07% as of September 2024, compared to 31.17% in the same period last year.
The bank’s customer deposits (total deposits excluding interbank deposits and certificates of deposit) reached Rs 2,53,973 crore as on September 30, 2024, registering a 16% year-on-year increase.
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Certificates of deposit increased by 19.9% to Rs 11,917 billion in Q2 FY24 as against Rs 9,940 billion in Q2 FY23. As of September 30, 2024, interbank deposits stood at Rs 3,215 million, down 19.5% compared to Rs 3,993 million in the same period last year.
The bank’s total advances increased by 19.32% to Rs 2,33,825 crore from Rs 1,95,968 crore as on September 30, 2023. According to internal classification, the retail credit book increased by 23% and the wholesale credit book increased by 13%. The retail and wholesale ratio is 57:43 respectively.
The Commonwealth Bank operates through four divisions: Treasury, Corporate or Wholesale Banking, Retail Banking and Other Banking Services. As of December 31, 2023, the bank had 1,418 branches and 1,960 ATMs/recyclers.
The consolidated net profit of both companies increased by 16.17% to Rs 1,027.51 million, while gross profit for the first quarter of FY2025 increased by 25.4% to Rs 7,663.65 million compared to the first quarter of FY24.
Federal Bank shares fell 3.51 per cent to Rs 186.90 on the BSE.
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First publication date: October 7, 2024 | 10:10 AM IST
