Private sector lender Federal Bank today said it expects total business to cross Rs 75,000 crore in 2010-11.
"We expect total business to cross Rs 75,000 crore in the fiscal," Federal Bank Managing Director M Venugopalan said after inaugurating its first corporate banking branch here.
The total business mix comprising of total deposit and advances stood at Rs 63,000 crore at the end of March 2010.
The bank expects 20-22 per cent growth in credit in the current fiscal and about 20 per cent in deposits, he said.
With a net profit of Rs 464.5 crore in 2009-10, the Capital Adequacy Ratio of the bank is at 17.26 per cent.
All corporate borrowers with an annual turnover of Rs 500 crore and above and all large value accounts above Rs 25 crore have been brought under the new branch opened today, he said.
The unit has created a specialised desk for various industries such as project finance and infrastructure, he said.
