Federal Bank total deposits jump 9% YoY

The private lender on Monday announced that its total deposits increased by 9% to Rs 175,432 crore as of 31 December 2021 compared to Rs 161,670 crore reported on 30 December 2020.

Sequentially, deposits rose 2% as of 31 December 2021 from Rs 171,995 crore as on 30 September 2021. At the end of the December 2021, the private lender's customer deposits were at Rs 170,654 crore (up 9% YoY), interbank deposits were at Rs 1,598 crore (down 44% YoY) and certificates of deposit stood at Rs 3,180 crore (up 72% YoY).

CASA rose 15% to Rs 64,343 crore as of 31 December 2021 from Rs 55,740 crore registered in 31 December 2020. CASA ratio improved to 36.68% at the end of 31 December 2021 from 36.16% posted at the end of 30 September 2021 and 34.48% recorded on 31 December 2020.

 

Federal Bank's gross advances grew by 12% to Rs 143,633 crore as of 31 December 2021 from Rs 128,180 crore posted on 31 December 2020. The bank's liquidity coverage ratio was at 153.66% as on 31 December 2021, falling from 248.86% posted on 31 December 2020.

Shares of Federal Bank were up 3.07% at Rs 85.55 on BSE.

Federal Bank operates through four segments: treasury, corporate or wholesale banking, retail banking and other banking operations.

The bank posted a 49.6% rise in standalone net profit to Rs 460.26 crore in Q2 FY22 as compared to Rs 307.62 crore reported in Q2 FY21. The private sector lender's total income fell 2.9% to Rs 3823.61 crore in Q2 FY22 over Q2 FY21.

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