Federal Bank opens 26 branches nationwide

In its bid to reach out to more people, Kerala-based Federal Bank has opened 26 branches in 11 states taking the total number of branches to 669 in the country. Addressing a press conference here today, Bank Ernakulam Region General Manager C Thomas Joseph said the bank has opened 26 branches in 11 states like Andhra Pradesh, Karnataka, Kerala and Maharashtra. As many as seven branches had been opened in Andhra Pradesh, four in Karnataka and three each in Kerala and Maharashtra. Branches had been opened in Assam, Chattisgarh, Delhi, Gujarat, Punjab, Tamil Nadu and Uttar Pradesh, he said. Mr Joseph said all the branches were operating under the core banking solution and fully networked and the bank had 680 ATMs in various cities of the country. Enumerating the bank's performance in the last fiscal, Mr Joseph said the net profit was Rs 500.49 crore and the net worth Rs 4325 crore as on March 21, 2009. The bank has a capital adequacy ratio of 20.14 per cent complying with Basel II frame work, which was one among the highest in the industry.

Replying to a question on the meger of Federal Bank and Catholic Syrian Bank, Mr Joseph said the due diligence study was on and it would be accordingly reported to the Stock Exchange concerned as Federal Bank was a listed entity.

-- (UNI) -- 03MC5.xml

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