Federal Bank has reported its business update, revealing total deposits of Rs 2,22,513 crore, with a growth of 21.4 percent over Rs 1,83,355 crore as of June 30, 2022. The bank’s customer deposits (total deposits excluding interbank deposits and certificates of deposit) aggregated to Rs 2,10,439 crore, a growth of 17.2 percent over Rs 1,79,586 crore as of June 30, 2022.

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The bank’s gross advances grew by 20.9 percent to Rs 1,86,593 crore from Rs 1,54,392 crore as of June 30,2022. As per internal classification, retail credit book grew by 20.2 percent and wholesale credit book grew by 21.6 percent, Federal Bank said in a regulatory filing.

The retail to wholesale ratio stood at 54:46 respectively, it added.

The lender’s CASA ratio, which is the ratio of deposits in current accounts and saving accounts to total deposits, in the June quarter stood at 31.85 percent as compared to 36.84 percent YoY and versus 32.68 percent QoQ.

Meanwhile, the share price of the lender rose over 1 percent after it reported strong business during the first quarter of fiscal 2023-2024. At the time of writing this report, the Federal Bank shares were trading 1.19 percent higher at Rs 1127.60 apiece on the BSE.

In fourth quarter of last financial year, the lender's customer deposits had 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. 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.