Federal Bank, a leading player in India’s banking sector, made significant strides today with the inauguration of five new branches in the Northeast region. Strategically positioned in Bijoyanagar (Assam), Dharmanagar (Tripura), Karimganj (Assam), Kolasib (Mizoram), and Naharlagun (Arunachal Pradesh), these branches underscore the bank’s commitment to extending its footprint in high-potential markets.
The digital inauguration, led by Shyam Srinivasan, MD & CEO of Federal Bank, highlights the bank’s innovative approach to expansion. With a target of reaching 1500 banking outlets by the end of fiscal year 2024, Federal Bank aims to solidify its position as a key player in the Northeastern banking landscape.Sabu R S, Senior Vice President and Zonal Head, Kolkata Zone, Federal Bank, emphasized the bank’s customer-centric approach. “Our focus on providing customized financial solutions aligns with the unique needs of the Northeast region,” he stated, reaffirming the bank’s commitment to fostering growth and prosperity.
Federal Bank’s robust financial position, with a total business mix of ₹ 4.39 Lakh Crore as of December 31, 2023, underscores its stability and resilience. With a Capital Adequacy Ratio (CRAR) of 15.02%, the bank is well-equipped to support its expansion plans while adhering to regulatory standards.
