The Hindu Business Line : Federal Bank hopeful of one buy this year

Mr K.S. Harshan, Executive Director, Federal Bank, said the bank hoped to pick up majority stake in at least one bank this year. "We are looking at several likely and willing candidates," he said.

"We would require to raise capital depending on the cash needs of the candidate we are acquiring," he added.

Federal Bank recently acquired the Ganesh Bank of Kurundwad which has a branch network of 32.

Currently, the bank has a capital adequacy ratio of around 13 per cent, which would fall to 12 per cent if the Basel II norms were factored in. "There is a headroom for about Rs 400 crore in tier II capital," said Mr Harshan.

Federal Bank has set a target of 25 per growth in credit as well as deposits

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