Federal Bank rolls out 66 branches, 34 ATMs

On the occasion of its Founders Day celebrations on Tuesday and to mark its 66{+t}{+h} year of operations, Kerala-based Federal Bank has launched 100 new customer touch points in the country — 66 branches and 34 ATMs.

Speaking on the occasion, Mr Shyam Srinivasan, Managing Director and CEO, said that of these 66 branches, 28 are in Kerala and 38 distributed across the country, giving the bank an enhanced presence in Tamil Nadu, Gujarat and Karnataka. With this, the bank is now present in 25 States and has touched 100 branches in the Mumbai zone, he said.

Besides the launch of new touch points, he said the bank marked its Founders Day with the launch of many inaugural offers such as special pricing for deposits of 66 days tenor, specialised offerings on gold loans, home loans and bullion.

The bank at present has a network of 823 branches, including the 66 new branches, and business worth Rs 81,000 crore giving it the leading position amongst the private sector banks.

The bank aims to become a dominant player in the Indian banking sector and the No. 1 player in its home State in the near future, in addition to establishing a significant presence in other select States and segments, he added.

At a time when most banks in India are cautious in lending to SMEs fearing deterioration in credit quality, he said that the bank is focussing on this segment with caution and confidence.

This move is in line with its vision of becoming the most trusted partner for the SME, retail and NRI customer segments.

The bank also has a programme to develop its human resources, so that they provide best-in-class service to its customers and support its scale-up of operations, he said.