A recent press report said that private sector lender Federal Bank has set plans to expand its business in the coming 2 years span. The lender has planned to increase its branch count by 245.
Reports said that with the new addition, the total branch count of the bank would sum up to 755.
Mr. Shyam Srinivasan, CMD of the bank said that the bank’s branch network would grow to 1,000 by the fourth quarter of 2012. He also said that the bank is planning to boost to its ATM network.
He added saying that the plan to boost up the ATM network will not be as important as the expansion of branch network as Federal Bank customers have access to over 75,000 ATMs (of all banks) across the country. The bank does not charge its customers for using other bank ATMs. Mr. Shyam Srinivasan said that the bank has planned to add another 200 ATMs to its ATM network.
Federal Bank Limited is a major Indian commercial bank in the private sector, headquartered at Aluva, Kerala. The name Federal Bank Limited was officially announced in the year 1947 with its headquarters nestled on the banks on the river Periyar. Since then there has been no looking back and the bank has become one of the strongest and most stable banks in the country. The bank offers home loan, personal loan, mortgage loan, car loans, Aashray Scheme, Equity Subscription, Prathyasha Loan, Ashwas Gold Loan etc.