The reappointment is with effect from September 23, 2021 till September 22, 2024. The bank received the approval on July 9, 2021, it said in a press release to exchanges.
Asset quality of Federal Bank was stable during the quarter with the gross non-performing assets (NPA) falling to 2.1 percent from 2.22 percent Q-o-Q and 3.39 percent Y-o-Y.
The bank does not hold large portfolios of stress and aims to bring down its non-performing assets (NPAs) and non-performing loans (NPLs) going ahead.
According to Shyam Shrinivasan, the Federal Bank is likely to maintain its margins at the current levels of 3.30 percent, a climb of 17 bps year-on-year.
FCNRs could pull USD 8-10 billion in the Indian market, but we need more clarifications on the scheme to entice investors towards it, says Shyam Shrinivasan, MD & CEO, Federal Bank.
Drop in Q1 net profit was mainly due to provisions and because of slippage in couple of Corporate Debt Restructuring (CDR) accounts. The gold loan book also degrew, says Shyam Srinivasan, MD, Federal Bank.
In an interview to CNBC-TV18, Shyam Shrinivasan, managing director and chief excutive officer Federal Bank gives his views on the bank's Q3 numbers.
Federal Bank has announced its FY11 results. Shyam Shrinivasan, the MD and CEO says he expects NIMs to come down further to some extent. On the banks advances, he expects it to grow 20-22% in current fiscal 2012.