Federal Bank has reported its Q4 Business Update, revealing strong growth across key financial metrics. The bank's Customer Deposits increased by 13.3 percent to Rs 2.01 lakh crore compared to Rs 1.78 lakh crore the previous year, while Total Deposits grew by 17.4 percent to Rs 2.13 lakh crore, as of March 31.

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Gross Advances were up by 20.2 percent to Rs 1.77 lakh crore, with the Retail credit book increasing by 18.6 percent and wholesale credit book growing by 22.2 percent.

The bank's CASA (current account savings account) increased by 3.9 percent to Rs 69,739 crore compared to Rs 67,121 crore in the previous year.

Federal Bank's total deposits and gross advances exceeded expectations and showed significant growth. The bank's retail and wholesale credit books also grew substantially, with the Retail to wholesale ratio at 54:46.

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First Published:Apr 3, 2023 5:56 PM IST