The benefits of federal bank shares after RBI nodded to refuse Shyam Srinivasan as MD & CEO; Motilal Oswal saw 22% upside down
Federal bank stock prices jumped more than 5 percent of intraday on July 12 a few days after the Bank of India (RBI) reserves cleaned the removal of Shyam Srinivasan as the Managing Director and Chief Executive Officer.
Returns, approved on July 9, will apply from September 23, 2021 to 22 September 2024, the Bank said in a press release to the exchange.
Over the past decade that Srinivasan was in a helmet, the bank has turned into a medium-sized private bank with a strong focus on retail business, including gold loans and small and medium entrepreneurs funding.
Srinivasan also brings changes to expansion strategies by focusing on digital channels instead of physical expansion.
"When I joined the bank, I added 600 branches in five years. In the past five and a half, I just added 20 branches...