Bank will soon take a decision on bringing down the bank’s lending rates: CEO Federal Bank
Kochi: The trends on the inflation front and the positive impact of fall in crude oil prices on the economy might have led the Reserve Bank of India to announce a cut in interest rates, Shyam Srinivasan, managing director and CEO, Federal Bank, said here on Thursday.
Talking to reporters after announcing the results for the third quarter, Srinivasan said the bank will soon take a decision on bringing down the bank’s lending rates. The bank reported a net profit of Rs 264.69 crore for the third quarter of the current fiscal, up 15.02 per cent compared with the figures for the corresponding period last fiscal. Total income grew by 10.24 per cent to Rs 2,090 crore.
( Source : dc )
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