The gross income from dividend for the July-September period of this financial year was ₹1,360 crore. The non-bank lender did not make any profit on sale of investments in the quarter under review.
private lender federal bankThe proforma number issued to the stock exchanges showed that the credit growth was higher than expected at 19% year-on-year (YoY) with gross credit of ₹1.63 lakh crore at the end of September quarter. According to the bank, its retail loans grew by 18.7%, while wholesale loans grew by 20.2%.
“We believe retail loan acceleration is primarily driven by mortgages, followed by gold and auto loans,” said Anand Dama, analyst, MK Global, “Considering the strong growth momentum for the industry and the bank, we revise our credit growth for Federal Bank from 16% to 18% in FY23.”
The lender’s deposit growth, however, moderated at 10% YoY, with retail deposits growing at 9% YoY. The total deposits in the September quarter stood at ₹1.89 lakh crore.
public sector lender Bank Of Maharashtra Strong credit growth was also recorded at 28.65% with September provisional advances of ₹1.48 lakh crore to ₹1.15 lakh crore last year. Growth in deposits was much slower than loans at 12.58%. The total liability of the bank is now Rs 1.1 lakh crore.
Karur Vysya Bank Reported further improvement in the growth trajectory with gross credit growing at 15.9% year-on-year. Deposit growth was also healthy at 12.5% year-on-year, while casa The (current account and savings account) ratio was largely stable at 35%.
“The banking sector has seen a gradual recovery in systemic credit growth, which was broad-based and primarily led by the personal loan and industry sectors,” it said. Darpin Shah Haitong Securities.
private sector lender IDFC First Bank Funded assets with reported proforma numbers are growing at 24.8% year over year. Its total funded assets stood at ₹1.45 lakh crore at the end of September 2022. It also posted strong CASA deposit growth of 37%, taking its liabilities to ₹63,378 crore.