Federal Bank, Kerala based private sector bank has reportedly opened a new branch at Sreekariyam in Thiruvananthapuram. The bank has inaugurated the branch on March 24, 2015.
Meanwhile, the bank has recently introduced 'Remit & Retain' scheme for its NRI customers. The scheme shall remain open till March 31, 2015. All NRI customers who remit Rs 1 Lakh or above as a single remittance to their NRE Savings/ Current Account during this period, and retain the same for a minimum of 45 days will get a Wildcraft 'Pac N Go' Sling Bag as assured gift.
The bank’s net profit for the quarter ended December 31, 2014, rose by 15.01% at Rs 264.69 crore as compared to Rs 230.13 crore for the quarter ended December 31, 2013. The bank’s total Income has increased by 10.24% to Rs 2090.01 crore for the quarter under review from Rs 1895.92 crore for the corresponding quarter of the previous year.
