FEDERAL BANK ADDS 100 MORE BRANCHES TO NETWORK

                                       FEDERAL BANK  ADDS 

                        100 MORE BRANCHES TO NETWORK

The Aluva-based Federal Bank, the fourth largest private commercial bank in the country, expanded its footprint by adding 100 branches to its network on a single day on March 10 across the country. With this, the total number of branch network has gone up to 938 branches.In Kerala, the bank opened 26 new branches to take the total number of branches to 518 in the State. The bank is planning to increase the number of branches in the country to 1,000 by the end of June this year, according to P.C. John, Executive Director of the bank.

Federal Bank has been opening three new branches on an average every month in Ernakulam Zone. In the last few months, it has opened 17 branches and another six branches were opened in the zone on March 10, said T. Oommen Benjamin, General Manager.

The six new branches, opened in the Kottayam and Thodupuzha regions, were at Bharananganam, Kurichi, Manimala, Kottaramattom (Pala), Mangattukavala (Thodupuzha), and Vannappuram.The bank has identified Ernakulam Zone as a growth potential region. Federal Bank currently has a network of 838 branches and a business size of almost Rs.80,000 crore.Federal Bank has registered quarterly profits of Rs.202 crore as on December 31, 2011.

                                                          Prof. John Kurakar