Ambitious Target For Digital Penetration - 75% By March 2019

With the recently opened branches in the Delhi zone starting to deliver results, the bank sets ambitious growth plans.

Federal Bank has been operating in Delhi for the last 40 years. The bank opened branches at prime locations in Delhi like Connaught Place, Nehru Place, Chandni Chowk, Westend, etc. Over the years, it has expanded its wings to various states in the north India. At present, its Delhi zone covers 9 states and union territories.

EXPANDING NETWORK

The Delhi zone of Federal Bank has 124 branches spread across 9 states – Punjab, Rajasthan, Haryana, Jammu & Kashmir, Uttar Pradesh, Madhya Pradesh, Uttarakhand, Chandigarh and Delhi. Across these states, the bank has deployed 128 ATMs. K.A. Babu, head of North Zone, says: “Many of the bank’s old and large branches have been opened with a focused strategy to be present in significant geographies. We will open our currency chest in Delhi in the next financial year.”

The bank has 7 chests across the country. The Delhi chest will be the 8th.

CUSTOMER GROWTH

The Delhi zone had 4 lakh customers in the beginning of this financial year. During this year, the bank has already added 30,000 new customers. It expects to add 20,000 more customers this financial year.

Says Babu: “Over the years, we could reach out to a large number of customers and build relationship and loyalty. We plan to add 50,000 new customers in the first quarter of the next financial year and make the total customer base at 5 lakh by June 2017. Our ambitious plan is to add 10,000 customers per month and reach 8 lakh customers by 2020.”

NRI SHARE INCREASING