Federal Bank to Open 100 Branches in a Single Day

Mumbai: Kerala-based Federal Bank would expand its footprint opening 100 more branches on a single day, March 10, across India, taking the total branch network to 938, a senior official of the private lender said. "We plan to have 1,000 branches by end of June 30. Introduction of new branches enables Federal Bank to be closer to customers, provide better service and enhanced customer experience," Shyam Srinivasan, Managing Director and Chief Executive Officer of the bank, said. "This expansion of branches will propel the business growth of the bank in the coming years. In line with our founder's vision, we have a renewed focus on reaching out to customers, enhance and improve our scale of operations," he added. All these branches will have customer friendly services such as ATM, NRI Services, core banking solution, RTGS/NEFT, net banking facility, mobile banking, international debit card, all types of deposits and advances, life and general Insurance products and mutual funds. Federal Bank currently has a network of 837 branches and a business of almost 80,000 crore.