Exclusive: Shyam Srinivasan, MD & CEO, Federal Bank On A 14-Year Success Legacy

#FederalBank #ShyamSrinivasan #BankingGrowth #FinancialSuccess #LeadershipLegacy
Shyam Srinivasan, who has served as the Managing Director and CEO of Federal Bank since September 23, 2010, is set to be succeeded by KVS Manian, the former Joint Managing Director at Kotak Mahindra Bank Ltd. Srinivasan's tenure, spanning 14 years, concludes on September 22, 2024. Under his leadership, Federal Bank has achieved significant milestones and growth. Recently, Federal Bank reported its financial results for the quarter ending June 30, 2024, marking a record high in quarterly profit, which increased by 18.25% to ₹1,010 crore. Total business for the bank rose by 20% to ₹4,86,871 crore, driven by strong gains in both deposits and advances. The operating profit reached an unprecedented ₹1,500.91 crore. Key performance metrics include an improved Return on Assets (ROA) of 1.27% and a Return on Equity (ROE) of 13.64%. Asset quality remained strong with Gross NPA at 2.11% and Net NPA at 0.60%. Total deposits grew by 19.58%, and net advances increased by 20.34%. Net Interest Income (NII) surged by 19.46% to ₹2,291.98 crore, showcasing Federal Bank's robust financial health and strategic growth. Watch Shyam Srinivasan, MD & CEO of Federal Bank, in conversation with Business Today TV Managing Editor Siddharth Zarabi.
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