Federal Bank MD and CEO Shyam Srinivasan with chief marketing officer MVS Murthy (left) and senior V-P and Zonal Head Dileep B (right) at a media interaction in Hyderabad on Thursday (August 08, 2024).
| Photo Credit: Arrangement
Federal Bank plans to add 10 to 12 more branches in Telangana this year to its existing network of 37 branches in the State. It intends to open 10 to 12 new branches next year too, a decision driven by the growth opportunity available in the region.
Federal Bank, which made a foray in the region with a branch in Abids here 50 years ago, has 78 branches across Telangana and Andhra Pradesh. “We are a full service player. We did exactly, in terms of branches, in the last five years what we did in first 45 years,” MD and CEO Shyam Srinivasan said, adding the bank set up 39 branches in the first 45 years and doubled the number, to 78, in the next five years.
The bank’s business in the Telugu States also increased significantly from ₹5,000 crore about five years ago to ₹15,000 crore. “We trebled our business in last five years. There is a good chance that in the next three we will do what we did in the first 50 years… this place [offers] huge opportunity to grow incrementally,” he said in a media interaction on Federal Bank completing 50 years in Hyderabad.
In a release, the bank said it offered a comprehensive range of banking services. Corporate Institutional Banking (CIB), Commercial Banking (COB), treasury sales and Centralised Retail Credit Hub (CCSC) teams are located in Hyderabad. It has also established a specialised Large Corporate Relationship Division (LCRD) and a corporate salary team to cater to the growing corporate clientele.
With a loan book of close to ₹10,500 crore in Hyderabad, it has primarily focused on retail banking, establishing multiple outlets across the city, the bank said.
