Shyam Srinivasan’s job at Federal Bank is only half done
The CEO may have turned around a bank that was in the grips of corruption at the grassroots, but can he make it one of India’s top five private banks?
Federal Bank chief executive Shyam Srinivasan isn’t happy. Since January, the bank’s shares may have soared 53%, almost 3x the growth in the Nifty Private Bank index. But he wants more.
“I still think we have not been rewarded as well as we should for the performance,” Srinivasan recently told The Economic Times.
The CEO of the Aluva-based bank has a point. With Srinivasan at the helm for the past 12 years, the private sector lender, once plagued by grassroots-level corruption and unionism, has grown its deposits 1.5x and advances 1.6x vis-a-vis the industry.
However, during the same period, …
Author
Furquan MoharkanFurquan leads the banking coverage at The Morning Context. A business journalist with eight years of experience and a best-selling author, in his earlier stints as a reporter with the Deccan Herald and a columnist at The Banker, he wrote on banking, financial markets and regulatory affairs. He has extensively covered India's debt market crisis, banking crisis and the fall of Yes Bank.
Editor, Banking
furquan@mailtmc.com
Delhi