Federal Bank shares up 4% after deposits surge 20% YoY

The bank’s customer deposits, which excludes the interbank deposits and certificates of deposit, for the quarter aggregated to Rs 2.52 lakh crore, a growth of 20% over Rs 2,10 lakh crore as of June 2023.

The Bank’s grew 20% to Rs 2.24 lakh crore from nearly Rs 1,87 lakh crore as of June 2023 while the retail credit book and wholesale credit book grew by 25% and 14% respectively.

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Federal Bank’s CASA numbers were also up by 10% YoY, standing at approximately rs 71,000 crore for Q1FY25 and the gross advances were up 20.1% YoY as of June-end.

Shares of Federal Bank have increased by 41.75% in the last one year while in the current calendar year, the stock has surged 15.5%. In the last one month alone, the shares have risen by 10% as per BSE analytics.

On the RSI, the stock is placed near a mid-range, around the 58 level and is also standing well above its significant exponential moving averages on the charts, as per the Trendlyne data.

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