Federal Bank announced Q1FY25 results:
- Total Business of the Bank reached Rs 4,86,871.33 crore
- Net Profit highest ever @ Rs1,009.53 crore, grew 18.25 %
- Operating Profit highest ever @ Rs 1,500.91 crore
- ROA for Q1 stood at 1.27 % and ROE stood at 13.64 %
- GNPA and NNPA brought down to 2.11% and 0.60 % respectively.
- Total Deposits increased by 19.58 %
- Total Net Advances increased by 20.34 %
- Net Interest Income at Rs 2,291.98 crore, grew by 19.46 %
Shyam Srinivasan, Managing Director and CEO of the Bank 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. It’s been a quarter where we recorded many firsts, however most noteworthy was the fact that our pioneering technology initiatives have been awarded by very reputed stakeholders. We believe the good start; stable credit quality and sustainable retail deposit traction should help us move further towards our aspiration of being the Most Admired Bank.”