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Fed Bank to expand network in the north

FB1Federal Bank is eyeing a 25% in branch network in the North in the next fiscal. The bank’s MD and CEO Shyam Srinivasan said the expansion will be focused on Punjab and the NCR and the bank already had good traction in these two regions. Earlier he opened the bank’s 100th branch in north India in the NCR. Plans are afoot to enter more tier-2 and tier-3 towns in the North in the next fiscal, he added. Federal Bank plans to focus on small and medium enterprises and non-resident clientele for ramping up business in the North. Over the last 18 months, the bank had seen a sharp growth in its branch network, from around 70 to 100 branches, in the northern region.

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