Federal Bank Ltd posts 21% YoY increase in deposits, advances for period ended June 30, 2023

Federal Bank Ltd has announced the business updates for period ended June 3, 2023.

- Total deposits reached ₹ 2,22,513 Crore, with a growth of 21.4% over ₹1,83,355 Crore as of June 30, 2022.

- The Bank's Customer deposits (Total deposits excl Interbank deposits and certificates of deposit) aggregated to ₹ 2,10,439 Crore, a growth of 17.2% over ₹ 1,79,586 Crore as of June 30, 2022.

- The Bank's gross advances grew by 20.9% to ₹ 1,86,593 Crore from ₹ 1,54,392 Crore as of June 30,2022. As per internal classification, Retail credit book grew by 20.2% and wholesale credit book grew by 21.6%. Retail to Wholesale ratio is at 54:46 respectively.

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. 126.10 as compared to the previous close of Rs. 122.20. The total number of shares traded during the day was 1683349 in over 19141 trades.

The stock hit an intraday high of Rs. 126.40 and intraday low of 122.20. The net turnover during the day was Rs. 210429893.00.

Source : Equity Bulls

Keywords

TheFederalBank INE171A01029 BusinessUpdate Q1FY24 Loans Advances Deposits