The Federal Bank500469Banking
Federal Bank management did not deny the possibility of an inorganic deal with Jana Small Finance Bank during the post-results press conference, sending Jana Small Finance Bank shares up
By ScoutQuest · · 1 min read
- Jana Small Finance Bank move
- 1.2 percent
Heard on business television between 14:36:03 - 14:39:03 IST.
- During the conference call, Federal Bank management said it is constantly evaluating opportunities for inorganic growth in financial services, including core banking.
- Management did not explicitly deny a potential deal with Jana Small Finance Bank when asked.
- Anchors noted the non-denial is significant and is why Jana Small Finance Bank shares rose nearly 1.2% to day's highs, while Federal Bank shares fell.
- Guest Chakri said a small finance bank tie-up could make strategic sense given Federal Bank's positioning serving low-end customers.
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