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To grow business and to expand its geographical reach, Federal Bank has strengthened its senior management team.
“The bank has improved quite substantially and in the course of FY18 one of the focus areas is to create capability that should be able to, next year this time, take on two times more load. So, we are investing both in physical and digital infrastructure,” Shyam Srinivasan, Managing Director and CEO, Federal Bank, told BusinessLine .
In the process, the bank has also built a good senior management team, Srinivasan said. Dismissing speculation about his retirement, he added, “I still have a lot of time left. We have a good team at the moment, and we have people, both from within the bank and some seniors whom we have hired in the recent past.”
By strengthening the senior management team, the bank is laying the foundation for double-digit growth in the next two years.
“As part of the management rejig, we now have two executive directors, we have a chief credit officer, a chief risk officer, and a chief operating officer. All are very capable, all are in their early 50s or late 40s. So, I think the bank has a good talent pool to identify prospective leaders,” said Srinivasan. The bank has spent a lot of time in the last five years addressing credit-related challenges, he said. “Thankfully, we don’t have those challenges now. The bank has demonstrated the capability to grow; we are reasonably well-capitalised, we are now consuming a fair amount of good capital, so there is appetite for growth,” said Srinivasan.
“I think the bank’s whole model is getting our capability to a point where we can digest more load without much of an issue. Last fiscal we converted to a new state-of-the-art platform on our core banking system which has been upgraded,” he added.
Talking about technology aiding business, Srinivasan said: “From a technology standpoint, both on core banking and on digital, we have invested, we have created a fair amount of network.
“We now have 1,250 branches; so the capability of the bank to deal with both volume and geographic variance is there.”
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