Monday, February 22, 2016

Federal Bank hopes 15-20% growth in advances up coming fiscal 22 feb

Federal Bank : With its larger peers busy in cleaning up their balance sheets, South-based private sector lender Fed Bank is looking at it as an opportunity to increase business & expects 15-20 per-cent credit growth in the up coming financial year.Click for Commodity tips

At a time when some of the large and medium-sized banks are going through stress, with their focus more on getting their consolidation & act right, it opens up a remarkable space & opportunities for us," Fed Bank MD & CEO Shyam Srinivasan told in reports.

In a move to clean up bank's books, the Reserve Bank has questioning lenders to identify some huge accounts which are under stress, classify them as NPA and make adequate provision for them. Following this asset quality review, many of the public and private sector banks have reported dip in their profits or losses in the Q3(3rd quarter) of 2015-16. Our Country's largest lender State Bank of India reported 62 per-cent decline in profit to Rs 1,115 crore in the 3rd quarter from Rs 2,910 crs. The 2nd largest lender, Bank of Baroda , showed the highest-ever quarterly loss at Rs 3,342 crs for the quarter.

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