Federal Bank’s gross advances grow 8% in Q1

CASA is seen astatine Rs 58,959 crore during the archetypal quarter, an y-o-y summation of 19%. The CASA ratio is reported astatine 34.81%.

Deposits of Federal Bank grew 9% year-on-year (y-o-y) during the archetypal 4th of the existent fiscal, portion gross advances reported an 8% y-o-y growth, the slope said successful a regulatory filing.

The Kerala-based lender said astatine the extremity of the June 2021 quarter, full deposits stood astatine Rs 169,393 crore arsenic against Rs 155,938 crore successful the year-ago period. Total advances astatine the extremity of the archetypal 4th were astatine Rs 132,770 crore.

However, full deposits and advances degrew erstwhile compared sequentially with the 4th quarter. Total deposits degrew 1.8%, from Rs 172,644 crore successful Q4 of FY21. Advances declined by 1.5% from Rs 134,877 crore reported successful the 4th fourth of the erstwhile fiscal.

CASA is seen astatine Rs 58,959 crore during the archetypal quarter, an y-o-y summation of 19%. The CASA ratio is reported astatine 34.81%.

The lender’s liquidity sum ratio is reported astatine 215.20% for the June quarter, compared to 233.14% for the year-ago play and 211.74% for the preceding quarter.

The slope reported the highest-ever quarterly nett net of Rs 477.81 crore for the 4th fourth of FY21, which was higher by 58.6% year-on-year, chiefly due to the fact that of little provisioning.