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ICICI Securities Report
Federal Bank Ltd.'s FY22 annual report highlights its focus on footprint expansion during the first half of the decade (2012-22). While the emphasis was on consolidation, the bank drove its business with a Branch Light and Distribution Heavy approach and aimed at transformation from presence to prominence.
Now with Covid-related uncertainties abating and competition increasing, the bank plans to increase its outreach in Network-2 (ex-South) by over 25-30% over the next three years.
Incremental expansion would be in newer catchment areas. Further, recently-added business lines such as credit card, commercial vehicle and microfinance are well underway and gearing up to contribute meaningfully to incremental growth going forward.
Federal Bank plans to grow at 15-17 % business compound annual growth rate, i.e., ~1.5 times increase in business, over the next two-three years.
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