28 March 2024 – According to Federal Bank’s MD and CEO, Shyam Srinivasan, the bank has been expanding at a rate of around 18–20% annually during the last several years. Over the next years, economic growth is predicted to range from 7% to 7.5% annually. Bank credit typically expands at a rate double that of the economy.
There is a good chance that India’s credit will expand by 13% to 15%. It is reasonable to anticipate that the Federal Bank will expand by 15% to 18% since the bank often outpaces the market in terms of growth.
How is the development there visible to us? Srinivasan Shyam: The good news is that we would have had close to 140 outlets in FY24, which ends in three to four days, representing a 10% increase.
Conclusion
Whether it’s another 100 branches or 150—it all depends on time and opportunity—but I believe a similar momentum will carry over into FY25. In terms of growth, it will be another fantastic year for growing our footprint.
