Federal Bank unveiled a strategic expansion plan today with the inauguration of five new branches in the Northeast region of India. Positioned in key locations including Bijoyanagar (Assam), Dharmanagar (Tripura), Karimganj (Assam), Kolasib (Mizoram), and Naharlagun (Arunachal Pradesh), these branches mark a significant stride in the bank’s mission to provide tailored financial solutions to the region’s diverse populace.
The digital inauguration, spearheaded by Shyam Srinivasan, MD & CEO of Federal Bank, underscores the bank’s commitment to leveraging technology for inclusive growth. With plans to reach 1500 banking outlets by the close of the fiscal year 2024, Federal Bank aims to fortify its position as a frontrunner in the Northeastern banking landscape.Sabu R S, Senior Vice President and Zonal Head, Kolkata Zone, Federal Bank, emphasized the bank’s deep-rooted understanding of the Northeast’s cultural and economic dynamics. “As we celebrate 50 years of presence in the region, our focus remains on delivering advanced financial services tailored to the unique needs of our customers,” he stated.
Federal Bank’s total business mix stood at ₹ 4.39 Lakh Crore as of December 31, 2023, reflecting its robust financial standing. With a Capital Adequacy Ratio (CRAR) of 15.02%, the bank continues to uphold stringent regulatory standards while fostering innovation and growth.
