Federal Bank reports 20% growth in gross advances

4 Apr 2024 , 12:01 PM

The private Federal Bank said that at the end of March 31, 2024, its total advances had increased by 20% year over year to ₹2.13 lakh Crore from ₹1.77 lakh Crore the previous year.

The bank reported to stock exchanges that its wholesale credit book had grown by 15% and its retail credit book had grown by 25%. The ratio of retail loans to wholesale loans is 56:44.

As of March 31, 2023, the bank’s total deposits have grown to ₹2.53 lakh Crore, an increase of 18% above ₹2.13 lakh Crore.

Suryoday Small Finance Bank recorded a 41% year-over-year increase in gross advances to ₹8650 Crore. The bank also released its provisional business data on Wednesday. In comparison to the same period last year, it disbursed ₹1688 Crore versus ₹2340 Crore during the January-March quarter.

By the end of March, its gross non-performing assets ratio had dropped from 3.1% to 2.8% over the previous year. Deposits at the bank increased by 50% to ₹7775 Crore.

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