The Hindu Business Line : Federal Bank focuses on rural sector

THIRUVANANTHAPURAM: Federal Bank will focus on providing modern banking facilities in the rural sector, the Chairman, Mr K.P. Padmakumar, said here on Monday.

Mr Padmakumar was delivering his presidential address at a function held to formally inaugurate the new fully computerised branch and the ATM facility at Pappanamcode near here.

The bank has made available modern technology-centric services such as Internet, mobile and anywhere banking, ATM services and even global credit cards in the rural branches. This is part of a well thought-out policy to provide the best of IT-enabled services to rural customers. Small farmers and merchants would also be targeted for special attention.

Federal Bank is also committed to improving further on the credit-deposit ratio. The bank has been following a strategy predicated on its avowed policy to lend out locally most of the resources raised from the home turf, Mr Padmakumar said. The bank expects to post a profit of Rs 150 crore for the financial year.

Mr N. Sakthan Nadar, Member of the Legislative Assembly, inaugurated the new branch and the ATM facility.

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