Federal Bank is focusing on safer gold loans amid the COVID-19 pandemic and hopes to grow faster than last year in the segment as demand for other credit slows down. The bank is targeting gold loan growth to touch 35 per cent during FY21 as against 29 per cent in FY20.
Federal Bank is a major Indian commercial bank in the private sector headquartered at Aluva, Kerala having more than thousand branches and ATMs spread across different States in India. It offers personal, corporate, NRI, SME banking, online banking services to its customers.