|Traded as||NSE: FEDERALBNK
|Industry||Banking and allied industries|
Aluva, Kochi - 683 101,
|Area served||Republic of India|
|Key people||Prof Abraham Koshy (Chairman)|
|Products||Loans, Savings, etc.|
Federal Bank Limited is a major Indian commercial bank in the private sector, headquartered at Aluva, Kochi, Kerala. It is the fourth largest bank in India in terms of capital base. As of 9 Februay 2014, Federal Bank has 1150 branches spread across 24 states and 1272 ATMs across 108 metro centres, 224 urban centres, 384 semi-urban locations and 87 rural areas in India.
In 1931, Travancore Federal Bank began operations at Nedumpuram, near Thiruvalla, Kerala. The 14 founders included Pattamukkil Varattisseril Oommen Varghese, his brothers Oommen Chacko, Oommen Kurian, and Oommen George, and Kavumbhagam Mundapallil Lukose. Oommen Varghese was the Chairman and Oommen Chacko the Manager. After the bank had functioned for nearly 10 years, the bank's day to day operations had to be stopped due to the ill-health of the Manager.
A lawyer from Perumbavoor named K.P.Hormis, and his acquaintances, bought the bank and took over the management. In 1945 they moved the bank's registered office to Aluva and Hormis became the Managing Director. In 1947, the bank's name was shortened from Travancore Federal Bank to Federal Bank.
Between 1963 and 1970, Federal Bank took over Chalakudy Public Bank, Cochin Union Bank (1963) in Trichur, Alleppey Bank (1964) in Alappuzha, St. George Union Bank (1965) in Puthenpally, and Marthandam Commercial Bank (1968) in Thiruvananthapuram. In 1970, it 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 August 2013 Federal Bank introduced FedBook, the first electronic passbook launched by any bank in India. FedBook is a mobile app through which customers can view their passbook details.
Federal Bank was the principal sponsor of Kochi Tuskers Kerala . The tickets for KTK's home matches were sold through Federal bank branches and their website. Federal Bank was the perfect banking partner of Micromax ODI Cricket Series 2012 played between India and Sri Lanka in July–August, 2012. See also
Linking of Aadhaar
As Government of India has decided to introduce ‘Direct Cash Transfer’ (DCT) of various welfare schemes directly to beneficiaries’ bank account which is linked with Aadhaar Number w.e.f. January 1, 2013, Federal Bank customers can link their Aadhaar account.
- Official Site of the bank
- [Hormis : legend of a great banker with passion for development : biography of K.P. Hormis]
- IDBI Fortis Life Insurance