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01-03-2023 11:09 AM | Source: Accord Fintech
Federal Bank trades higher on reporting 19% rise in gross advances in Q3FY23
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Federal Bank is currently trading at Rs. 139.40, up by 1.75 points or 1.27% from its previous closing of Rs. 137.65 on the BSE.

The scrip opened at Rs. 137.65 and has touched a high and low of Rs. 142.10 and Rs. 137.65 respectively. So far 500774 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 142.25 on 15-Dec-2022 and a 52 week low of Rs. 82.50 on 26-May-2022.

Last one week high and low of the scrip stood at Rs. 142.10 and Rs. 131.45 respectively. The current market cap of the company is Rs. 29519.40 crore.

The Institutions holding in the company stood at 70.61%, while Non-Institutions held 29.39% stake in the company.

Federal Bank’s gross advances stood at Rs 171043 crore (provisional)  as of December 31, 2022 (Q3FY23), posting a 19.1% rise in year-on-year (YoY) terms as against Rs 143638 crore as of December 31, 2021 and on quarter-on-quarter (QoQ) basis, gross advances stood at Rs 163958 crore as of September 2022.

The bank’s total deposits grew 14.8% to Rs 201425 crore (provisional) as of December 31, 2022, as compared to Rs 175432 crore as of December 31, 2021 (on a yearly basis). On a quarterly basis, the deposits stood at Rs 189146 crore as of September 2022. CASA stood at Rs 68984 crore (Provisional) as of December 31, 2022, posting a 7.2% rise in year-on-year (YoY) terms as against Rs 64343 crore as of December 31, 2021. Its customer deposits stood at Rs 192451 crore (Provisional) as of December 31, 2022, a growth of 12.8% over Rs 170654 crore as of December 31, 2021.

Federal Bank is a major Indian commercial bank in the private sector headquartered at Aluva, Kerala having more than thousand branches and ATMs spread across different States in India. It offers personal, corporate, NRI, SME banking, online banking services to its customers.