Brief: Federal Bank CEO Says Search Panel Is At Advanced Stage To Submit Names For MD, CEO To RBI

Federal Bank

02/05/2024 10:15

May 2 (Reuters) - Federal Bank Ltd  FED.NS :
    * FEDERAL BANK CEO: MARKET SHARE GAINS ON ASSETS AND
DEPOSITS ARE
SUSTAINABLE AND GROWABLE GOING FORWARD
    * FEDERAL BANK CEO: THERE IS A BOARD-ESTABLISHED PANEL FOR
CEO'S
POSITION; BOTH INTERNAL, EXTERNAL CANDIDATES WILL BE CONSIDERED
    * FEDERAL BANK CEO: SEARCH PANEL AT AN ADVANCED STAGE TO
SUBMIT
NAMES FOR MD, CEO TO RBI
    * FEDERAL BANK CEO: BOARD HAS SET UP AN EFFICIENT SEARCH
PANEL;
PANEL HAS A LONG LIST OF PEOPLE TO CHOOSE FROM FOR CEO ROLE
    * FEDERAL BANK CEO: WILL NOT SHY AWAY FROM SPENDING ON
IT-RELATED
EXPENSES
    * FEDERAL BANK CEO: ASPIRE TO SPEND 8% OF OVERALL EXPENSES
OVER
THE NEXT FEW YRS ON IT
    * FEDERAL BANK CEO: EXPECT 18% CREDIT GROWTH IN FY25,
DEPOSIT
GROWTH WILL BE BETWEEN 16-18%
    * FEDERAL BANK CEO: IN PROCESS OF GETTING NECESSARY
CLEARANCES
FROM RBI TO RESTART ISSUING CO-BRANDED CREDIT CARDS
    * FEDERAL BANK CEO: EXPECT SEARCH PANEL TO SEND LIST OF
POTENTIAL
MD, CEO CANDIDATES TO RBI IN FEW WEEKS

Source text for Eikon:  ID: 
Further company coverage:  FED.NS 

 ((Reuters.Briefs@thomsonreuters.com;))