Federal Bank’s loan book grows 16.3% YoY to Rs 1.54 trillion in Q1

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Private sector lender has posted a 16.3 per cent year-on-year (YoY) growth in credit to Rs 1.54 trillion at the first quarter ended June 2022 (Q1FY23).

Its gross advances stood at nearly Rs 1.33 trillion at end of June 2021 (Q1FY22) and Rs 1.48 trillion at end of March 2022 (Q4FY22).

said in a late night filing with BSE that the retail credit book grew by 16.7 per cent and wholesale credit book was up by 15.8 per cent. The retail-to-wholesale ratio improved to 55:45 (Q1FY23) from 54:46 a year ago (Q1FY22).

As for liabilities, the Kochi-based lender’s total deposits grew by 8.2 per cent YoY to Rs 1.83 trillion from Rs 1.69 trillion as of June 30, 2021.

The bank’s low-cost deposits, or Current Account Savings Account (CASA), expanded by 14.6 per cent YoY to Rs 67,540 crore. The share of CASA in total deposits was 36.84 per cent at end of Q1FY23, from 34.81 per cent in Q1FY22.

The share of retail deposits improved to 94 per cent as of June, 30 2022 from 93 per cent as of June 30, 2021, it added.

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