As per latest exchange filing, Federal Bank has posted gross loan growth of 19.4% YoY and 6.2% QoQ to Rs1.63 lakh crore while total deposits are up 10% YoY and 3.2% QoQ to Rs1.89 lakh crore. As per internal classification, retail credit book grew 18.7% and wholesale credit book grew 20.2%. CASA deposits grew 10.7% YoY to Rs68873 crore and as a result CASA ratio was up to 36.41% vs. 36.16% YoY.
Robust loan growth come in as a positive surprise. We believe, with uptick in margins during Q2FY23, the bank is expected to report a healthy operational performance.
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