Federal Bank - Q1FY23 Business Update

The Federal Bank Ltd has announced the business update for Q1 FY2022-23.

- The Bank's CASA deposits aggregated to ₹ 67,540 Crore, a growth of 14.6% over ₹ 58,959 Crore as of June 30, 2021. CASA ratio reached 36.84% (Q1 FY23) from 34.81% (Q1 FY22).

- The Bank's Retail deposits as per internal classification aggregated to ₹ 1,72,506 Crore, a growth of 9.8% over ₹ 1,57,054 Crore as of June 30, 2021. Retail deposits share improved to 94% from 93% as of June 30, 2021. Total deposits aggregated to ₹ 1,83,355 Crore, a growth of 8.2% over ₹ 1,69,393 Crore as of June 30, 2021.

- The Bank's gross advances grew by 16.3% to ₹ 1,54,405 Crore from ₹ 1,32,787 Crore as of June 30,2021. 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 above information is subject to limited review by the statutory auditors of the Bank.

Shares of The Federal Bank Limited was last trading in BSE at Rs. 95.10 as compared to the previous close of Rs. 93.60. The total number of shares traded during the day was 310744 in over 1796 trades.

The stock hit an intraday high of Rs. 95.45 and intraday low of 93.20. The net turnover during the day was Rs. 29372817.00.

Source : Equity Bulls

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