Federal Bank to hire 3,000 employees over next three years, add 300 branches

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Federal Bank plans to recruit about 3,000 employees and add 300 branches in the next three years. AP Federal Bank plans to recruit about 3,000 employees and add 300 branches in the next three years. AP
SummaryThe bank has so far launched 26 technology products for its customers.

Kerala-headquartered Federal Bank plans to recruit about 3,000 employees and add 300 branches in the next three years, a top official today said.

The bank presently has about 10,126 employees on its rolls.

Since the last three years, around 3,000 employees have been recruited and plans are on to employ another 3,000 in the next three years, Federal Bank Managing Director and CEO Shyam Srinivasan told reporters here.

In the last three years, 340 branches were added across the country. "We could like to repeat it. However, if economic environment is not robust, we will have to be careful. The aim is to add 80-100 branches every year," he said.

On proposals to levy charges for ATM transactions, he said the private lender was allowing its customers unlimited usage of ATMs, however, maintenance costs are going up.

"We are reviewing the cost. We will see how industry goes and decide accordingly," he said.

The bank has so far launched 26 technology products for its customers. Within two weeks, a new product which would enable easy cash transactions between customers and merchant establishments would be launched, General Manager (HR) Thampy Kurian said.

The bank's technology product 'Fed book', which enables a customer to view transactions for the past several years, was a big hit with customers.

The bank also offers a facility through which devotees can provide offerings to temples, churches and mosques through their federal bank accounts.

The bank has also tied up with white line ATM facilities of Tata group, Muthoot Finance and Bank Tech, he added.

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