Federal Bank opens 26 New Branches in a single day across Tamil Nadu and Puducherry

Federal Bank inaugurated 26 new branches across Tamil Nadu and Puducherry today. With this, the number of branches in the Bank's Chennai Zone crosses 250. In addition to this launch, the bank also donated 26 smart vision devices for the visually challenged people through Rotary club of Chennai Towers and disbursed SHG loans to 60 women beneficiaries through Tiruvallur District Fishermen Federation system at Ponneri. The 26 branches include Aranthangi, Arurpatti, Bommahalli (Karimangalam), Chinnanerkunam, Erranahalli (Palacode), Karukkanahalli (Rayakottai), Koviloor, Kuruppanaickenpalayam, Mammudi (Thalaivasal), Manakudi, Manakkal, Mathimangalam, Manapparai, Masinaickenpatti (Ayothiapattinam), Mittahalli, Naduvakurichi, Nallur (Kurumbur), Peruveli (saravambakkam), Ponneri, Pudurnadu, Sammattividuthy, Siruvadi, Thirupalaivanam, Vadalur, Villianur and V Krishnapuram.

The inauguration of the branches was done by the Bank's MD & CEO Shyam Srinivasan in the presence of Eqbal Manoj, Senior Vice President & Zonal Head and other staff.

"FY 24 has been quite a landmark year on many counts for us. The launch of more than 25 branches today brings up the 250th Branch in TN and will take us to 1500 branches by the end of this month. This expansion in all our strategic markets, sets us up for continued gains in the year ahead. Our Digital at the Fore and Human at the core mantra gives us the edge required to compete in this AI driven milieu. We enter FY 25 with a lot of optimism on the back of the strong network we have built across the country." said Shyam Srinivasan, Managing Director & CEO, Federal Bank.

The new branches are equipped with state-of-the-art banking technology and are staffed by dedicated professionals who are eager to provide personalized financial solutions to meet the diverse needs of individual and business customers alike. From savings and investment options to loans and digital banking services, Federal Bank is equipped to cater to all the financial requirements.

Shares of The Federal Bank Limited was last trading in BSE at Rs. 150.15 as compared to the previous close of Rs. 149.85. The total number of shares traded during the day was 548030 in over 6096 trades.

The stock hit an intraday high of Rs. 151.25 and intraday low of 149.05. The net turnover during the day was Rs. 82282284.00.

Source : Equity Bulls

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TheFederalBank INE171A01029 26NewBranches