Federal Bank’s gross advances grow 8% in Q1

By: |
July 06, 2021 12:15 AM

The Kerala-based lender said at the end of the June 2021 quarter, total deposits stood at Rs 169,393 crore as against Rs 155,938 crore in the year-ago period. Total advances at the end of the first quarter were at Rs 132,770 crore.

CASA is seen at Rs 58,959 crore during the first quarter, an y-o-y increase of 19%. The CASA ratio is reported at 34.81%.CASA is seen at Rs 58,959 crore during the first quarter, an y-o-y increase of 19%. The CASA ratio is reported at 34.81%.

Deposits of Federal Bank grew 9% year-on-year (y-o-y) during the first quarter of the current fiscal, while gross advances reported an 8% y-o-y growth, the bank said in a regulatory filing.

The Kerala-based lender said at the end of the June 2021 quarter, total deposits stood at Rs 169,393 crore as against Rs 155,938 crore in the year-ago period. Total advances at the end of the first quarter were at Rs 132,770 crore.

However, total deposits and advances degrew when compared sequentially with the fourth quarter. Total deposits degrew 1.8%, from Rs 172,644 crore in Q4 of FY21. Advances declined by 1.5% from Rs 134,877 crore reported in the fourth quarter of the previous fiscal.

CASA is seen at Rs 58,959 crore during the first quarter, an y-o-y increase of 19%. The CASA ratio is reported at 34.81%.

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

The bank reported the highest-ever quarterly net profit of Rs 477.81 crore for the fourth quarter of FY21, which was higher by 58.6% year-on-year, mainly because of lower provisioning.

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