Money & Banking

Federal Bank total deposits up 17%, gross advances rise 8% in Q1 FY 21

Our Bureau Mumbai | Updated on July 05, 2020 Published on July 05, 2020

Private sector lender Federal Bank reported a 17 per cent increase in its total deposits in the first quarter of 2020-21 and just an eight per cent increase in gross advances.

In the quarter ended June 30, 2020, the bank’s total deposits rose to ₹1,54,938 crore as against ₹1,32,537 crore a year ago.

Its gross advances rose to ₹1,23,085 crore in the first quarter of the fiscal compared with ₹1,13,717 crore a year ago.

In a regulatory filing on Sunday, the lender also said its customer deposits grew by 16 per cent year on year to ₹1,49,418 crore as on June 30, 2020.

The bank reported a CASA growth of 19 per cent to ₹49,616 crore in the quarter under review.

Its CASA ratio stood at 32.02 per cent and its liquidity coverage ratio was 227.79 per cent as on June 30, 2020.

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Published on July 05, 2020
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