Wednesday, June 7News That Matters

Federal Bank gross advances up by 9% at Rs 1.35 lakh crore by March 2021, deposits up 13%

Private sector lender on Monday reported a 9 per cent increase in its gross advances to nearly Rs 1.35 lakh crore (Rs 1,34,876 crore) by the end of March 31, 2021.

The bank’s gross advances stood at Rs 1,24,153 crore by the end of March 2020.

Federal Bank said the data is provisional and is being released in accordance with SEBI norms on Listing Obligations and Disclosure Requirements Regulations and Code of Practices and Procedures for fair disclosure of unpublished price sensitive information.

The CASA (current account and savings account) deposits of the south-based lender witnessed a 26 per cent growth year on year at Rs 58,381 crore as of March 31, 2021, as against Rs 46,450 crore a year ago.

Total deposits were up by 13 per cent at Rs 1,72,655 crore as against Rs 1,52,290 crore. Liquidity coverage ratio grew to 206.91 per cent as against 196.65 per cent for the period under review.

While the CASA ratio moved up to 33.81 per cent as of March 2021 from 30.50 per cent by year ago month. The information provided is subject to an audit by the statutory auditors of the bank, Federal Bank said.

Federal Bank shares were down 3.11 per cent at Rs 76.40 apiece on BSE.

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