Federal Bank

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Federal Bank Limited
Private
Traded asNSEFEDERALBNK
BSE500469
LSEFEDS
IndustryBanking
Financial services
Founded
  • 23 April 1931 (as Travancore Federal Bank)
  • 02 December 1949 (Federal Bank)
FounderK.P Hormis [1]
HeadquartersKochi, Kerala, India
Number of locations
1,251 branches (2019)
Key people
  • Shyam Srinivasan
    (MD & CEO)
ProductsCredit cards, Consumer banking, Corporate banking, Finance and Insurance, Mortgage loans, Private banking, Wealth management, Investment banking
RevenueIncrease10,911.98 crore (US$1.6 billion) (2018)[2]
Increase 2,291.03 crore (US$330 million) (2018)[2]
Increase 878.85 crore (US$130 million) (2018)[2]
Total assetsIncrease138,313.95 crore (US$20 billion) (2018)[2]
Number of employees
12,295 (2019)[2]
Capital ratio12.97% [2]
Websitewww.federalbank.co.in

Federal Bank is a Private Sector, scheduled commercial bank in India, headquartered in Aluva, Kochi.[2] The Bank also has its Representative Offices abroad at Abu Dhabi and Dubai. [3]

With a customer base of 8 million [2], including 1.2 million NRI customers and a large network of remittance partners across the world, Federal Bank claims to handle more than 15% of India’s inward remittances. The Bank has remittance arrangements with more than 110 Banks/Exchange Companies across the world. The Bank is also listed in the BSE, NSE and London Stock Exchange and has a branch in India’s first International Financial Services Centre (IFSC) at GIFT City in Gujarat. [4]

History[edit]

The bank name was named Federal Bank Limited on 2 December 1949, after completing the formalities of Banking Regulation Act, 1949.

Between 1963 and 1970, Federal Bank took over Chalakudy Public Bank (est. 20 July 1929 in Chalakudy), Cochin Union Bank (est. 1963) in Trichur, Alleppey Bank (est 1964; Alappuzha), St. George Union Bank (est. 1965) in Puthenpally, and Marthandam Commercial Bank (est. 1968) in Thiruvananthapuram. In 1970, Federal Bank became a scheduled commercial bank and came out with its initial public offering in 1994.

In January 2008, Federal Bank opened its first overseas representative office in Abu Dhabi.

In November 2016, Federal Bank opened its second UAE representative office, in Dubai.[5].

Sponsorships[edit]

  • Federal Bank was the principal sponsor of the Kochi Tuskers Kerala cricket team.[6] The tickets for home matches were sold through Federal bank branches and their website.

Board of directors[edit]

Current Board of Directors[7] are:

  • Mr. Shyam Srinivasan - Managing Director & CEO
  • Smt. Grace Elizabeth Koshie - Director
  • Smt. Shubhalakshmi Panse - Director
  • Mr. C Balagopal – Director
  • Mr. A P Hota – Director
  • Mr. Balakrishnan Krishnamurthy – Director
  • Mr. Siddhartha Sengupta - Director
  • CA Manoj Fadnis - Director
  • Mr. Ashutosh Khajuria - Executive Director

References[edit]

  1. ^ "Federal Bank Founder".
  2. ^ a b c d e f g h "Annual Report 2017-18". Retrieved 2 February 2019.
  3. ^ "Overseas Representative Office".
  4. ^ "Federal Bank IFSC Banking Unit (IBU), GIFT City".
  5. ^ "Federal Bank to expand overseas footprints".
  6. ^ "Federal Bank is Kochi IPL's principal sponsor". The New Indian Express. Retrieved 16 April 2019.
  7. ^ "The Federal Bank Key Personnel".