Federal Bank rises after total deposits jump 12% in Q3 FY21

Federal Bank rose 1.25% to Rs 68.90 after the bank's total deposits increased by 12% to Rs 1,61,670 crore in Q3 FY21 from Rs 1,44,592 crore in Q3 FY20.

At the end of the December 2020 quarter, the private lender's customer deposits were at Rs 1,56,973 crore (up 13% YoY), interbank deposits were at Rs 2,849 crore (up 51% YoY) and certificates of deposit stood at Rs 1,848 crore (down 57% YoY).

CASA rose 23% to Rs 55,739 crore in Q3 December 2020 from Rs 45,484 crore in Q3 December 2019. CASA ratio stood at 34.48% as on 30 December 2020 as against 31.46% as on 31 December 2019.

Federal Bank's gross advanced improved by 6% to Rs 1,28,174 crore in Q3 FY21 from Rs 1,20,861 crore in Q3 FY20.

The bank's liquidity coverage ratio was at 248.26% as on 30 December 2020 as against 181.30% as on 31 December 2019.

Federal Bank operates through four segments: treasury, corporate or wholesale banking, retail banking and other banking operations. The bank has 1271 branches and 1941 ATMs/recyclers as on 30 September 2020.

The bank reported 26.1% decline in net profit to Rs 307.62 crore on 8.7% increase in total income to Rs 3997.23 crore in Q2 September 2020 over Q2 September 2019.

In the past one year, the stock has tumbled by 23.97% while the benchmark S&P BSE Sensex gained 15.99% during the same period.

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