Monday, November 28, 2022

Federal Bank Further Strengthens Its Branch Footprint In India

Federal Bank today opened 6 more branches. 4 of these branches are located at Metros and 2 of them at unbanked rural areas. The new branches include Mehdipatnam in Telangana, Bangalore / Thanisandra in Karnataka, Kanpur Ashok Nagar in Lucknow, Jabalpur in Madhya Pradesh, Sirunesalur and Mathandakuppam in Tamil Nadu. The Bank has so far opened 44 branches this financial year till date which are equipped with ATMs, Safe deposit lockers, state-of-the-art platforms such as Fed-e-studio etc. and intends to open many new branches in this fiscal year. 

Speaking on the occasion, Nandakumar V, Executive Vice President and Head-Branch Banking, Federal Bank said, “We see our branches occupying mind space in key geographies. We are consciously balancing our presence across all tiers of cities. The response to our systematic expansion has helped us scale and strengthen multiple businesses.” 

About Federal Bank: Limited

Federal Bank (NSE: FEDERALBNK) is a leading Indian private sector bank with a network of around 1,323 banking outlets and 1,876 ATMs/Recyclers spread across the country. The Bank’s total business mix (deposits + advances) stood at ? 3.50 Lakh Crore as on 30 September, 2022. Capital Adequacy Ratio (CRAR) of the Bank, computed as per Basel III guidelines, stood at 13.84% as on 30th September 2022. Federal Bank has its Representative Offices at Dubai and Abu Dhabi that serve as a nerve centre for Non-Resident Indian customers in the UAE. The Bank also has an IFSC Banking Unit (IBU) in Gujarat International Finance Tec-City (GIFT City). Federal Bank is transforming itself, keeping its principles intact, into an organization that offers services beyond par. It has a well-defined vision for the future as a guidepost to its progress.

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