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Federal Bank's CASA deposits stood at Rs 72,592 crore as of 30 September 2023, up 5% from Rs 68,873 crore as of 30 September 2022. CASA ratio reduced to 31.17% in Q2 FY24 as compared to 36.41% in Q2 FY23.
The bank's customer deposits (total deposits excluding interbank deposits and certificates of deposit) aggregated to Rs 2,18,938 crore as of 30 September 2023, recording a growth of 20% over Rs 1,83,106 crore as of 30 September 2022.
Certificate of deposit surged 137% to Rs 9,940 crore in Q2 FY24 as against Rs 4,186 crore posted in Q2 FY23. Interbank deposits jumped 115% to Rs 3,993 crore as of 30 September 2023 over Rs 1,854 crore recorded in the same period a year ago.
The bank's gross advances grew by 20% to Rs 1,95,973 crore from Rs 1,63,958 crore as of 30 September 2022. As per internal classification, retail credit book increased by 22% and wholesale credit book grew 17%. Retail to Wholesale ratio is at 55:45 respectively.
Federal Bank operates through four segments: treasury, corporate or wholesale banking, retail banking and other banking operations. The bank has 1,366 branches and 1,920 ATMs/recyclers as on 30 June 2023.
The private bank's standalone net profit jumped 42.13% to Rs 853.74 crore on 41.05% increase in total income to Rs 5,756.94 in Q1 FY24 over Q1 FY23.
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