This article contains content that is written like an advertisement. (August 2021)
|Founder||K. P. Hormis|
|Headquarters||Aluva, Kochi, Kerala, India|
Number of locations
|1,272 branches (2020)|
|Revenue||₹15,142.16 crore (US$2.1 billion) (2020)|
|₹3,204.70 crore (US$450 million) (2020)|
|₹1,542.78 crore (US$220 million) (2020)|
|Total assets||₹180,638.05 crore (US$25 billion) (2020)|
Number of employees
|Capital ratio||14.62% |
Federal Bank Limited is a major Indian Private sector bank headquartered in Aluva, Kochi. The bank has more than 1,250 branches spread across different states in India. It also has its Representative Offices abroad at Abu Dhabi, Qatar, Kuwait, Oman and Dubai.
With a customer base of over 10 million, including 1.5 million NRI customers and a large network of remittance partners across the world, Federal Bank handled more than 15% of India's total inward remittances of $79 billion in 2018. 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. The Bank has been recognized as a Great Place to Work in a study conducted by the Great Place to Work® Institute.
The Federal Bank Limited (the erstwhile Travancore Federal Bank Limited) was incorporated with an authorised capital of ₹5,000 at Nedumpuram, a place near Thiruvalla in Central Travancore on 23 April 1931 under the Travancore Companies 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 and is a major Indian commercial bank in the private sector having more than thousand branches and ATMs spread across different States in India.
Between 1963 and 1970, Federal Bank took over Chalakudy Public Bank (est. 20 July 1929 in Chalakudy), Cochin Union Bank (est. 1963) in Thrissur, 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 and is currently the fourth largest bank in India in terms of capital base.
In January 2008, Federal Bank opened its first overseas representative office in Abu Dhabi.
In April 2021, to strengthen the fight against the Covid-19 pandemic,the bank had teamed up with media conglomerate Network18 and actor and activist Sonu Sood and launched a nationwide vaccination awareness campaign 'Sanjeevani – A shot of life'. The campaign aims to raise awareness among all Indians on the importance of vaccination and was launched on the occasion of World Health Day (April 7).
In 2021,it partnered with Fi, Bengaluru-based neobank for salaried millennials,which will enable bank to issue a savings account, equipped with a debit card, in under three minutes. In May 2021,under its CSR initiative 100 refrigerators for vaccination storage were distributed to various health care centers for the Covid-19 vaccination drive whose inauguration took place at the premises of the Divisional Commissioner’s Office by Deputy Chief Minister and District Guardian Minister Mr.Ajit Pawar.
- Federal Bank is the Lead Sponsor of NorthEast United FC in the 2019–2020 season of Indian Super League.
Board of directors
Current Board of Directors 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. Sudarshan Sen - Director
- Ms. Varsha Purandare - Director
- Mr. Ashutosh Khajuria - Executive Director
- Ms. Shalini Warrier - Executive Director
Some of the historical landmarks of the company are as follows:
2015 - Received Banking Frontier's Finnoviti 2015 Award for its innovative product ‘Scan N Pay’.
2014 - Won the CNBC Award for Financial Inclusion.
2013 - Awarded ‘The Best Bank among Private Sector Banks’ constituted by Institute of Public Enterprises (IPE).
2007 - Won the Banking technology award instituted by Indian Banks Association for the Best clearing & Settlement System.
1989 - Commenced merchant banking operations.
1965 - Merged with St. George Union Bank Ltd.
1931 - Bank Incorporated.
- Banking in India
- List of banks in India
- Reserve Bank of India
- Indian Financial System Code
- List of largest banks
- List of companies of India
- Make in India
- "Federal Bank Founder".
- https://www.federalbank.co.in/documents/10180/47517470/Annual+Report+FY+2020-21.pdf/5d07fd14-dddf-ca78-b59f-68c45f7858d9?t=1624183884484. Missing or empty
- "Overseas Representative Office".
- "India highest recipient of remittances at $79 bn in 2018: World Bank". The Economic Times. Press Trust of India.
- "Federal Bank IFSC Banking Unit (IBU), GIFT City".
- "Federal Bank Wins Great Place to Work® Certification".
- "Federal Bank Ltd | IBEF". www.ibef.org. Retrieved 8 May 2021.
- "Federal Bank to expand overseas footprints".
- "Network18 and Federal Bank launch 'Sanjeevani – A shot of life', a vaccination awareness campaign on World Health Day". www.bestmediaifo.com. 8 April 2021. Retrieved 8 May 2021.
- "Federal Bank partners with neobank Fi to issue a savings account". The Financial Express. 23 April 2021. Retrieved 8 May 2021.
- "Pune: Federal Bank Donates 100 Refrigerators For Vaccine Storage". Punekar News. 1 May 2021. Retrieved 8 May 2021.
- "The Federal Bank Key Personnel".