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Home / Companies / Company Results /  Federal Bank shares Q3 update, deposits grow 9%
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Shared its business update for the third quarter (Q3) of the current fiscal, Federal Bank on Monday said that its total deposits grew 9% year-on-year (YoY) at 1,75,432 crore (provisional) as of December 31, 2021. Shares of Federal Bank were trading over 2% higher at 84 apiece on the BSE in Monday's afternoon deals.

Federal Bank's low-cost deposits, current account and saving deposits (CASA), were up by 15% to 64,343 crore as compared to 55,740 crore from the year-ago quarter. Whereas its CASA ratio stood at 36.68% during the quarter from 34.48% in the same quarter last year and 36.16% in the previous quarter.

Its provisional gross advances were up 12% on a yearly basis as of December end at 1,43,633 crore. Meanwhile, its liquidity coverage ratio stood at 153.66% for the quarter under review from 248.86% YoY.

The banking stock is up 20% in a year's period. One of India’s largest old generation private sector banks, private sector lender Federal Bank reported a 50% jump in its standalone profit after tax at 460 crore in the quarter ended September 2021, from 307 crore in the corresponding quarter of the previous fiscal. 

Its Gross non-performing assets (GNPAs) stood 3.24 per cent as against 2.84 per cent during the second quarter whereas net NPAs was at 1.12 per cent compared to 0.99 per cent in the year-ago quarter.

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