Accounts and Wealth Management

Federal Bank’s new MD & CEO, KVS Manian has now set his eyes on enhancing the banks’ current account deposits and developing its wealth management platform in order to enhance its profitability. As for the growth strategy, Manian thinks to build on the bank’s strengths and opportunities within the customer base that is available to the bank. At present, the Federal Bank’s CASA (Current Account/Savings Account) ratio is 24/6 that is 24% savings accounts and 6% current accounts. Although the savings account ratio is in sync with the industry, Manian is of the opinion that the 6% current account share is quite low and can be improved upon. He stressed especially on this, “The savings account is in the right zone, but the current account is where the real growth potential lies.” The bank has a large branch network and the bank is planning to improve its mix of low cost current account deposits that can improve the margins without the need to spend heavily. This strategy is to make Federal Bank to emerge as one of the big banks in the market while at the same time keeping the costs low. Manian also believes that the wealth management is also on the rise and can especially be boosted through the bank’s large NRI customer base. He also added that, “These are loyal customers, they are often multiple generation customers. If we are able to offer them products which are suited to their investment needs, it will definitely help in boosting our wealth business.” This is where, under his leadership, Manian wants Federal Bank to move up to the tier of big private sector banks in India. He said, “We are already better than most of the older private sector banks. The next step is to try and get into the top league.” With a market capitalisation of ₹44,437.90 crore and the share prices having risen by over 19% within the past one year, Federal Bank is in a good position to move to the next level of growth with Manian’s strategic guidance.

What's Hot

Madhya Pradesh’s Education Paradox? More Money, Fewer Students

Stock Market Slips as IT Stocks Drag Down Airtel and Reliance Gains

Trade War Intensifies as Canada Imposes 25% Tariffs on $30 Billion in US Imports

Virus Susceptibility in Species: Study Reveals Surprising Findings

Effective Yoga Poses to Naturally Manage Blood Sugar Levels

Health Budgets Of States Fall Below 8%, Missing National Health Policy Targets

The Connection Between Diet and Organic Skincare – Foods for Healthy Skin

Priyanka Chopra’s Stunning Desi Look Steals the Spotlight at Her Brother’s Wedding Festivities

Jana Nayagan: Vijay Wields a Whip in Stunning 2nd Look Poster, Thrilling Fans

Assam’s Jatin Goswami Honored with Padma Bhushan for Sattriya Legacy

Vijay Vikram Singh Urgently Appeals for Respect Amidst Intense Backlash from Rajat Dalal Fans: ‘I Am Not Bigg Boss

Hindon: Incredible Air India Express Flights to Start from March 1 with Low Fares

Indian government approves Singapore Airlines bid to merge Vistara and Air India

Independence Day and Raksha Bandhan Fuel Airbnb Travel Rush

Virus Susceptibility in Species: Study Reveals Surprising Findings

Hindon: Incredible Air India Express Flights to Start from March 1 with Low Fares

Bachchan’s ₹83 Crore Duplex Sale Sparks Unbelievable Investment Growth

Kartik Aaryan’s Fitness Secret: How He Achieved a Stunning Transformation

Browsing: Accounts and Wealth Management

Federal Bank’s New CEO Eyes Growth in Current Accounts and Wealth Management

Madhya Pradesh’s Education Paradox? More Money, Fewer Students

Stock Market Slips as IT Stocks Drag Down Airtel and Reliance Gains

Trade War Intensifies as Canada Imposes 25% Tariffs on $30 Billion in US Imports

Maganomics: Trump’s Risky Economic Strategy Could End in Crisis

Our Picks

Madhya Pradesh’s Education Paradox? More Money, Fewer Students

Stock Market Slips as IT Stocks Drag Down Airtel and Reliance Gains

Trade War Intensifies as Canada Imposes 25% Tariffs on $30 Billion in US Imports

Most Popular

Madhya Pradesh’s Education Paradox? More Money, Fewer Students

Harvesting Hope: Rahul Gandhi’s Empathy in Action with Farmers before 2024 Elections

Is Modi Afraid? Congress Leader Accuses PM of Targeting Rahul Gandhi

Subscribe to Updates

What's Hot

Browsing: Accounts and Wealth Management