Shyam Srinivasan was re-appointed as the managing director (MD) and chief executive officer (CEO) of Federal Bank.
Federal Bank has received the approval from Reserve Bank of India (RBI) on 9 July 2021 for the re-appointment of Srinivasan as MD and CEO of the bank for a period of three years with effect from 23 September 2021 till 22 September 2024.
The private sector bank's net profit increased 59% to Rs 478 crore on 7% fall in total income to Rs 3,832 crore in Q4 FY21 over Q4 FY20.
Federal Bank operates through four segments: treasury, corporate or wholesale banking, retail banking and other banking operations.
Shares of Federal Bank jumped 5.60% to Rs 90.45. The stock hit a high of Rs 90.80 and a low of Rs 87.35 so far.
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