Personal loan lender Federal Bank targets total loan business of more than 75,000 crores

Private sector personal loan lender, Federal Bank has prepared ambitious goal of reaching a total business of over Rs 75,000 crore in this fiscal.

MD M Venugopalan of Federal Bank, said “We expect total business to cross Rs 75,000 crore in the fiscal”.

Towards the end of March 2010, the overall business of the bank was valued at Rs 63,000 crore which included deposits as well as advances.

Venugopalan said that the bank has an anticipation of 20-22% increase in its loan book during this financial year and a 20% rise in deposits.

The bank’s net profit was Rs 464.5 crore in 2009-10 and had a capital adequacy ratio of 17.26%.