Brief: India's Federal Bank CEO Says Expect Management Transition To Be Smooth

Federal Bank

24/07/2024 10:43

July 24 (Reuters) - Federal Bank Ltd  FED.NS :
    * INDIA FEDERAL BANK CEO: NET INTEREST MARGINS ARE EXPECTED
TO BE
IN 3.15% TO 3.25% RANGE
    * INDIA FEDERAL BANK CEO: EXPECT MANAGEMENT TRANSITION TO BE
SMOOTH
    * INDIA FEDERAL BANK CEO: KEEPING A TIGHT VIGIL ON
MICROFINANCE
BOOK
    * FEDERAL BANK CEO: PLAN TO OPEN 100 BRANCHES IN FY25; OF
THAT
EXPECT TO OPEN 35-40 BRANCHES BY SEPT
    * FEDERAL BANK CEO: TALKS WITH RBI ON FOR GETTING CLEARANCE
TO
RESTART ISSUING CO-BRANDED CREDIT CARDS
    * FEDERAL BANK CEO: EXPECT TO GET CLARITY ON ISSUING
CO-BRANDED
CREDIT CARDS BY Q3
    * FEDERAL BANK CEO: EXPECT CREDIT CARD SPENDS TO PICK UP IN
Q2, Q3
    * FEDERAL BANK CEO: CURRENT LEVEL OF CAPITAL ADEQUACY CAN
SUPPORT
CREDIT GROWTH FOR 18-24 MONTHS
    * FEDERAL BANK CEO: NO PLANS TO STAY ON BANK'S BOARD,
DIRECTLY OR
INDIRECTLY, ONCE TENURE ENDS
    * FEDERAL BANK CEO:  OPEN TO STAY ON BOARD OF GROUP COS

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