The share price of Federal Bank rose by 5.62% to Rs 119.35 today as the bank announced its FY23 Quarter 2 Result. Federal Bank Gross Advances grew by 19.4% year-on-year to Rs.163956 crore in Quarter 2 (i.e. July 2022- September 2022) of FY23 as compared to Rs.137313 crore in the same period last year.
Gross advances in the quarter-on-quarter stood at Rs.163956 crore in Q2 of FY23 as against Rs.154392 crore in Q1 of FY23. The retail credit book of Federal Bank has grown by 18.7% and the wholesale credit book by 20.2% in Q2 of FY23.
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The total customer deposits of the bank grew by 8.5% year-on-year to Rs.183106 crore in Q2 of FY23 as against Rs.168742 crore in Q2 of FY22. Total Deposits of the bank increased by 10% year-on-year to Rs.189146 crore in Q2 of FY23 as compared to Rs.171995 crore in Q2 of FY22.
Federal Bank reported Rs 625.34 crore in return on investment in the Q1 of FY23 as against Rs 588.21 crore in the Q4 of FY22.
Federal Bank’s CASA deposits grew by 10.7% year-on-year to Rs 68873 crore in Quarter 2 of FY23 as against Rs 62191 crore in the same period last year. Quarter-on-quarter CASA deposits increased to Rs.68,873 crores in Q2 of FY23 as against Rs.67,540 crores in Q1 of FY23.
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