Federal Bank has reported strong growth in its deposit portfolio, with total deposits reaching ₹2.98 trillion as of December 31. This represents a significant 12% year-on-year increase, highlighting the bank's effective deposit mobilization strategy and growing customer confidence.

Deposit Performance Overview

The bank's deposit growth demonstrates robust performance in attracting and retaining customers across various segments. The 12% year-on-year expansion indicates healthy business momentum and reflects the bank's competitive positioning in the deposit market.

Strategic Implications

The substantial deposit growth strengthens Federal Bank's funding base and enhances its capacity for lending operations. A robust deposit portfolio provides the bank with stable and cost-effective funding sources, which is crucial for maintaining healthy net interest margins and supporting business expansion.

The 12% growth rate outpaces many industry benchmarks, indicating the bank's effective customer acquisition and retention strategies. This performance positions the bank favorably for continued growth in its core banking operations.

Market Position

With total deposits of ₹2.98 trillion, Federal Bank continues to maintain its significant presence in the Indian banking sector. The consistent deposit growth reflects customer trust and the bank's ability to offer competitive products and services in a competitive banking environment.

Federal Bank has announced that its statutory auditor has undergone a structural transformation, converting from a traditional partnership to a Limited Liability Partnership (LLP) format. The bank communicated this development to stock exchanges on January 15, 2026, in compliance with regulatory disclosure requirements.

Auditor Conversion Details

The statutory auditing firm M S K A & Associates, Chartered Accountants, formally converted to M S K A & Associates LLP, Chartered Accountants, effective January 13, 2026. The conversion was executed under the provisions of the Limited Liability Partnership Act, 2008.

Regulatory Compliance and Communication

The bank received formal intimation from the auditing firm through a letter dated January 14, 2026, which was communicated via email on January 15, 2026. Federal Bank promptly disclosed this information to both the National Stock Exchange of India Limited and BSE Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The communication was signed by Samir P Rajdev, Company Secretary of Federal Bank, and included the original intimation letter from the auditing firm for reference.

Continuity of Audit Services

Federal Bank has confirmed that the structural conversion does not result in any changes to the existing audit engagement. Key aspects of the continuity include:

• M S K A & Associates LLP will continue as the bank's statutory auditor
• The firm will discharge all responsibilities for the remaining tenure of appointment
• No disruption to ongoing audit processes or timelines
• Maintenance of existing professional relationships and arrangements

Official Documentation

The intimation letter from M S K A & Associates LLP was signed by Swapnil Kale, Partner (Membership Number: 117812), and dated January 14, 2026, from Mumbai. The firm specifically requested that Federal Bank send appropriate intimation to stock exchanges regarding this structural change.

Federal Bank has made this information accessible on its official website at www.federal.bank.in , ensuring transparency and easy access for stakeholders and investors.