Federal Bank rises as Q1 retail deposits grow 10% YoY

Federal Bank rose 1.18% to Rs 94.70 after the bank said its retail deposits as per internal classification aggregated to Rs 1,72,506 crore as of 30 June 2022, a growth of 9.8% over Rs 1,57,054 crore as of 30 June 2021.

Retail deposits share improved to 94% from 93% as of 30 June 2021. Total deposits aggregated to Rs 1,83,555 crore, recording a growth of 8.2% over Rs 1,69,393 crore as of 30 June 2021.

The bank's CASA deposits aggregated to Rs 67,540 crore, recording a growth of 14.6% over Rs 58,959 crore as of 30 June 2021. CASA ratio stood at 36.84% in Q1 FY23 as compared to 34.81% in Q1 FY22.

 

Customer Deposits rose 9.1% to Rs 1,79,586 crore in Q1 FY23 as compared to Rs 1,64,603 crore in Q1 FY22. Certificate of Deposit grew 12.2% to Rs 2,724 crore in Q1 FY23 as against Rs 2,428 crore in Q1 FY22. Interbank deposits tanked 55.8% to Rs 1,045 crore in Q1 FY23 over Rs 2,362 crore in Q1 FY22.

The bank's gross advances grew by 16.3% to Rs 1,54,405 crore from Rs 1,32,787 crore as of 30 June 2021. As per internal classification, retail credit book grew by 16.7% and wholesale credit book grew by 15.8%. Retail to wholesale ratio improved to 55:45 (Q1 FY23) from 54:46 (Q1 FY22).

The private lender's standalone net profit rose 13.13% to Rs 540.54 crore on 2.72% increase in total income to Rs 3948.24 crore in Q4 FY22 over Q4 FY21.

Federal Bank operates through four segments: treasury, corporate or wholesale banking, retail banking and other banking operations. The bank has 1282 branches, 1885 ATMs/recyclers as on 31st March 2022.

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