Federal Bank, a leading private sector bank observed its 66th Founder’s Day on October 18, 2011 by inaugurating nine new branches in Tamil Nadu and 66 new branches and 34 ATMs all over India. Federal bank’s revenues touch Rs 81,000 crore and the Chennai Zone’s contribution is Rs 5350 crore.
Addressing the media, TS Jagadeesan, Chief General Manager, Federal Bank said: “The Chennai zone is very active in retail and SME lending which supplements corporate advance portfolio. We believe in the pursuit of excellence in various facets of banking and to adopt best industry practices.”
TK Palaniappan, Zonal Head, Federal Bank said: “Our immediate focus is to penetrate into the rural, semi urban and urban centres. The agriculture lending activities will be stepped up in tune with the corporate goals. Federal Bank is increasing its presence in the agricultural belt of western and southern areas of Tamil Nadu in a big way. In Chennai zone it is planning to add 41 branches to take the number to 100 by June 2012.”
