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Kochi, July 8 The Aluva-based Federal Bank, in its recently concluded two-day business conference, has discussed strategies to be adopted towards achieving Rs 1-lakh-crore business by 2011.

Inaugurating the conference, Mr M. Venugopalan, Managing Director and CEO, said the bank is targeting to grow the total business to Rs 70,000 crore by the end of the current fiscal. As part of its long-term vision, the bank aims to achieve a total business of Rs 1-lakh crore by March 2011.

The two-day business conference was held here to finalise the business budget and corporate strategies for 2009-10. The bank has a representative office in Abu Dhabi and arrangements with 29 exchange houses and eight banks from West Asia. The bank plans to add arrangements with10 more exchange houses in the Gulf region to provide smooth remittance facilities to non-resident Indians to their homeland. Talks to manage an exchange house in the Gulf is also in an advanced stage.

More Stories on : Private Banks | Kerala

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