In a move to bolster its presence in the Northeast region, Federal Bank inaugurated five new branches today. These branches, strategically located in Bijoyanagar (Assam), Dharmanagar (Tripura), Karimganj (Assam), Kolasib (Mizoram), and Naharlagun (Arunachal Pradesh), underscore the bank’s commitment to providing comprehensive financial services to the region.
The digital inauguration, led by Shyam Srinivasan, MD & CEO of Federal Bank, marked a milestone in the bank’s expansion plans. With this development, the bank is poised to reach a total of 1500 banking outlets by the end of the fiscal year 2024.Sabu R S, Senior Vice President and Zonal Head, Kolkata Zone, Federal Bank, emphasized the bank’s dedication to tailoring banking solutions to meet the unique needs of Northeast residents. He stated, “This year holds special significance for us as we celebrate 50 years of our presence in the region. Our aim is to extend our network and bring advanced financial services closer to our customers.”
Beyond offering banking services, Federal Bank is committed to supporting local development initiatives, aiming to empower individuals and businesses alike. The bank’s total business mix stood at ₹ 4.39 Lakh Crore as of December 31, 2023, reflecting its robust financial position and commitment to growth.Federal Bank, listed on the National Stock Exchange (NSE: FEDERALBNK), maintains a Capital Adequacy Ratio (CRAR) of 15.02%, demonstrating its adherence to Basel III guidelines. With Representative Offices in Dubai and Abu Dhabi and an IFSC Banking Unit (IBU) in Gujarat International Finance Tec-City (GIFT City), Federal Bank continues to evolve as a leading player in India’s banking sector, offering services beyond compare while upholding its core values.
