Federal Bank business crosses Rs 42,400 cr

Thiruvananthapuram, Mar 25: Crossing a business of more than Rs 42,400 crore, private sector Federal Bank will open 26 new branches in the country on March 26, taking the total number of branches to 600, Regional Manager of the bank here R Sivakumar said today.

Addressing a press conference here, he said the bank had more than Rs 24,500 crore deposits and made advances over Rs 17,900 crore. Claiming that the bank enjoyed a very prominent position among the private sector commercial banks, he said except in Jammu and Kashmir, it had branches across the country. As part of diversification, the bank had already entered into Life Insurance products in association with IDBI Fortis Life Insurance Company and third party mutual funds.

UNI