NEWS & ADVICE : FIXED DEPOSITS
Federal Bank aims to expand presence in industry
By Neelima Shankar
Sep 26, 2011
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Private sector lender Federal Bank has chalked out plans for expanding its business in the coming 2 years span. The lender aims to increase its branch count by 245.

With the new addition, the total branch count of the bank would sum up to 755.

"Our branch network would grow to 1,000 by the fourth quarter of 2012," said CMD of the bank, Mr Shyam Srinivasan.

It is also planning to give a boost to its ATM network. Speaking in this context, Srinivasan commented that, "this will not be as significant as expansion of branch network as Federal Bank customers have access to over 75,000 ATMs (of all banks) across the country and we do not charge our customers for using other bank ATMs."

He quoted of plans to "add another 200 ATMs."


 


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