Federal Bank stock price: Federal Bank drops 5% as FY22 filing, loan growth numbers fail to excite investors

NEW DELHI – Federal Bank shares fell 4.6% in early trading on Tuesday to snap its three-day winning run as investors failed to react well to growth in the lender’s advances and deposits for the previous year.

The private bank said gross advances in 2021-22 (April-March) increased by 9.5% to Rs 1,47,644 crore, while total deposits increased by more than 5% during the year. Gross advances as of March 31, 2021 were Rs 1.34,877 crore.

The Federal Bank meter slipped to a low of Rs 97.75 from Rs 102.50 at the previous close on the BSE.

According to provisional data released by the bank, total deposits stood at Rs 1,81,712 crore in FY22, an increase of 5.3% from Rs 1,72,644 crore a year ago. year.

The bank said its CASA (Current Account Savings Account) increased by 15% to Rs 67,132 crore as of March 31, 2022 from Rs 58,370 crore in the same period a year ago. The CASA ratio stood at 36.94%, according to a report by PTI.

Customer deposits increased by 8.9% to Rs 1,78,113 crore.

The private sector lender’s interbank deposits fell 62% to Rs 1,162 crore in the year ended March 2022, and certificates of deposit fell 59.3% to Rs 2,437 crore, PTI reported.

The Federal Bank announced a 29% increase in its net profit to Rs 522 crore for the December quarter from Rs 404 crore a year ago due to a cut in provisions by nearly half.


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