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'''Federal Bank Limited''' is an [[India|Indian]] private sector, scheduled commercial bank headquartered in [[Aluva]], [[Kochi]].<ref name="BalSheet" /> The Bank also has its Representative Offices abroad at [[Abu Dhabi]] and [[Dubai]].<ref>{{cite web|title=Overseas Representative Office|url=http://www.federalbank.co.in/overseas-office}}</ref>
'''Federal Bank Limited''' is an [[India|Indian]] private sector, scheduled commercial bank headquartered in [[Aluva]], [[Kochi]].<ref name="BalSheet" /> The Bank also has its Representative Offices abroad at [[Abu Dhabi]] and [[Dubai]].<ref>{{cite web|title=Overseas Representative Office|url=http://www.federalbank.co.in/overseas-office}}</ref>


With a customer base of 10 million,<ref name="BalSheet" /> including 1.5 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 SENSEX|BSE]], [[National Stock Exchange of India|NSE]] and [[London Stock Exchange]] and has a branch in India's first International Financial Services Centre (IFSC) at GIFT City in Gujarat.<ref>{{cite web|title=Federal Bank IFSC Banking Unit (IBU), GIFT City|url=http://www.federalbank.co.in//ibu-gift-citye}}</ref>
With a customer base of 10 million,<ref name="BalSheet" /> including 1.5 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<ref name=":10810">{{Cite web|url=https://muthootcap.com/two-wheeler-loan-apply.php |title=Two Wheeler Loan Apply Online |language=en-US|access-date=2020-10-25}}</ref> is also listed in the [[BSE SENSEX|BSE]], [[National Stock Exchange of India|NSE]] and [[London Stock Exchange]] and has a branch in India's first International Financial<ref name=":10197">{{Cite web|url=https://www.muthootfincorp.com/home-improvement-loan/|title=loan against gold|language=en-US|access-date=2020-10-25}}</ref> Services Centre (IFSC) at GIFT City in Gujarat.<ref>{{cite web|title=Federal Bank IFSC Banking Unit (IBU), GIFT City|url=http://www.federalbank.co.in//ibu-gift-citye}}</ref>


== History ==
== History ==
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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.
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.


The Bank became a Scheduled Commercial Bank in 1970, which also coincided with the Silver Jubilee Year, since the Bank commenced its operation in [[Aluva]].
The Bank<ref name=":10808">{{Cite web|url=https://www.muthootfincorp.com/home-improvement-loan/ |title=Home Improvement loan |language=en-US|access-date=2020-10-25}}</ref> became a Scheduled Commercial Bank in 1970, which also coincided with the Silver Jubilee Year, since the Bank commenced its operation in [[Aluva]].


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

Revision as of 19:38, 25 October 2020

Not to be confused with Federal Reserve Bank.

map

Federal Bank Limited
Company typePublic
NSE: FEDERALBNK
BSE: 500469
LSE: FEDS
IndustryBanking
Financial services
Founded
  • 23 April 1931 (as Travancore Federal Bank)
  • 02 December 1949 (Federal Bank)
FounderK.P Hormis [1]
HeadquartersAluva, Kochi, Kerala, India
Number of locations
1,263 branches (2020)
Key people
  • Shyam Srinivasan
    (MD & CEO)
ProductsRetail Banking, Wholesale Banking, Finance and Insurance, Mortgage loans, Wealth management, Investment banking, Credit cards, Debit cards
RevenueIncrease₹15,142.16 crore (US$1.8 billion) (2020)[2]
Increase ₹3,204.70 crore (US$380 million) (2020)[2]
Increase ₹1,542.78 crore (US$180 million) (2020)[2]
Total assetsIncrease₹180,638.05 crore (US$22 billion) (2020)[2]
Number of employees
12,496 (2020)[2]
Capital ratio14.35% [2]
Websitewww.federalbank.co.in

Federal Bank Limited is an Indian private sector, scheduled commercial bank headquartered in Aluva, Kochi.[2] The Bank also has its Representative Offices abroad at Abu Dhabi and Dubai.[3]

With a customer base of 10 million,[2] including 1.5 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[4] is also listed in the BSE, NSE and London Stock Exchange and has a branch in India's first International Financial[5] Services Centre (IFSC) at GIFT City in Gujarat.[6]

History

The Federal Bank Limited (the erstwhile Travancore Federal Bank Limited) was incorporated with an authorised capital of rupees five thousand at Nedumpuram, a place near Tiruvalla in Central Travancore on 23/4/1931 under the Travancore Company's Act. It started business of auction-chitty and other banking transactions connected with agriculture and industry.

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.

The Bank[7] became a Scheduled Commercial Bank in 1970, which also coincided with the Silver Jubilee Year, since the Bank commenced its operation in Aluva.

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.[8]

Sponsorships

Board of directors

Current Board of Directors[9] are:

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

See also

References

  1. ^ "Federal Bank Founder".
  2. ^ a b c d e f g h "Annual Report 2019-20". Retrieved 29 June 2020.
  3. ^ "Overseas Representative Office".
  4. ^ "Two Wheeler Loan Apply Online". Retrieved 25 October 2020.
  5. ^ "loan against gold". Retrieved 25 October 2020.
  6. ^ "Federal Bank IFSC Banking Unit (IBU), GIFT City".
  7. ^ "Home Improvement loan". Retrieved 25 October 2020.
  8. ^ "Federal Bank to expand overseas footprints".
  9. ^ "The Federal Bank Key Personnel".
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