Private sector lender, Federal Bank has set ambitious target of achieving a total business of more than Rs 75,000 crore for this fiscal.

"We expect total business to cross Rs 75,000 crore in the fiscal," Federal Bank Managing Director M Venugopalan said.

At the end of March 2010, the total business of the bank amounted to Rs 63,000 crore which comprised of both deposits and advances.

According to Venugopalan, the bank has an expectation of 20-22% growth in its loan book in this financial year and a 20% growth in deposits.

The bank had a net profit of Rs 464.5 crore in 2009-10 with a capital adequacy ratio of 17.26%.