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Federal Bank eyeing more acquisitions

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BANGALORE: Federal Bank continues to be on the prowl for acquisitions and is in talks with some private sector banks in Tamil Nadu and Karnataka.

Speaking to newspersons here on Monday, Chairman and CEO, M. Venugopalan, said: "Mergers are a necessity if small banks are to remain competitive." He refused to name the banks with whom such discussions are being held. The pursuit of such routes of growth is despite Federal bank's failure to acquire United Western Bank, where it was one of the frontrunners. Federal Bank recently acquired Ganesh Bank in Maharashtra.

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