Federal Bank To Have 1500 Branches By End Of FY24: Shyam Srinivasan, MD and CEO, Federal Bank

In a recent discussion with ET Now, Shyam Srinivasan, MD, and CEO of Federal Bank, revealed the bank's ambitious expansion strategy. Srinivasan disclosed that the bank has added approximately 140 branches in FY24 and will have a total count of 1500 branches by year-end FY24. He expressed intentions to bolster presence in western regions like Mumbai and other cities, anticipating sustained momentum in FY25. Despite systemic growing at a consistent rate of 13-15% in recent years, Srinivasan sees potential for the bank to maintain growth around 18%, propelled by both physical and digital expansions. Notably, sectors like microfinance, gold, commercial vehicle, and retail credit are expected to drive faster growth. Srinivasan emphasized the bank's focus on maintaining net interest margins (NIMs) while eyeing potential margin expansion.

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