Federal Bank has tied up with Philip Capital of Singapore to bring in capital from countries in South East Asia. The bank’s MD and CEO Shyam Srinivasan has been quoted as saying that the bank is making an entry in the capital market to further its interests in investment, capital and exchange organizations. He said the bank is looking at portfolio investment sources and going by the strong fundamentals of the bank in investment and portfolio management the new foray is expected to yield good dividends for the bank. He said Kerala and coastal Karnataka, being two of the top areas receiving remittances from overseas, the bank is looking at this region with new schemes on the offing. He also said the bank will vigorously follow NRI remittances with new schemes.
