Federal Bank
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 | |
 Federal Bank Head Office | |
| Type | Public |
|---|---|
| NSE: FEDERALBNK BSE: 500469 LSE: FEDS | |
| Industry | Banking Financial services |
| Founded |
|
| Founder | K. P. Hormis[1] |
| Headquarters | Aluva, Kochi, Kerala, India |
Number of locations | 1,336 branches (2021) |
Key people | Shyam Srinivasan (MD & CEO) |
| Products | |
| Revenue |  ₹15,142.16 crore (US$1.9 billion) (2020)[2] |
| ₹3,204.70 crore (US$400 million) (2020)[2] | |
| ₹1,542.78 crore (US$190 million) (2020)[2] | |
| Total assets | ₹201,367.39 crore (US$25 billion) (2021)[2] |
Number of employees | 12,592 (2021)[2] |
| Capital ratio | 14.62%[2] |
| Website | federalbank.co.in |
Federal Bank Limited is an Indian private sector bank headquartered in Aluva,Kochi, Kerala. The bank has 1,336 branches spread across different states in India.[2] It also has representative offices abroad in Abu Dhabi, Qatar, Kuwait, Oman, and Dubai.[3]
With a customer base of over 10 million,[2] including 1.5 million NRI customers and a large network of remittance partners around the world, Federal Bank handled more than 15% of India's total inward remittances of US$79 billion in 2018.[4] The bank has remittance arrangements with more than 110 Banks/Exchange Companies around the world.[citation needed] The bank is also listed in the Bombay Stock Exchange, National Stock Exchange of India and London Stock Exchange and has a branch in India's first International Financial Services Centre (IFSC) at the GIFT City.[5]
History[edit]
The Federal Bank Limited (the erstwhile Travancore Federal Bank Limited) was incorporated with an authorized 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.[6]
The bank was named Federal Bank Limited on 2 December 1949, after completing the formalities of Banking Regulation Act, 1949. It is considered as one of the major Indian commercial banks in the private sector having more than thousand branches and ATMs spread across different States in India. Between 1963 and 1970, Federal Bank[7] 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. The bank launched its initial public offering in 1994.[citation needed]
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.[citation needed]
In January 2008, Federal Bank opened its first overseas representative office in Abu Dhabi.[citation needed]
In November 2016, Federal Bank opened its second UAE representative office, in Dubai.[8]
[edit]
As of December 2022, the institutional holding at the bank is 70.08%, and the public holding is 29.93%.[9]
Sponsorships[edit]
- Federal Bank was the Lead Sponsor of NorthEast United FC in the 2019–20 season of Indian Super League.[10]
Board of directors[edit]
Current Board of Directors[11] are:
- C Balagopal –Chairman and Independent Director
- Shyam Srinivasan - Managing Director & CEO
- A P Hota – Director
- Siddhartha Sengupta - Director
- Manoj Fadnis - Director
- Sudarshan Sen - Director
- Varsha Purandare - Director
- Sankarshan Basu - Director
- Ramanand Mundkur - Director
- Ashutosh Khajuria - Executive Director
- Shalini Warrier - Executive Director
See also[edit]
- 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
References[edit]
- ^ "Federal Bank Founder".
- ^ a b c d e f g h https://www.federalbank.co.in/documents/10180/47517470/Annual+Report+FY+2020-21.pdf/5d07fd14-dddf-ca78-b59f-68c45f7858d9?t=1624183884484.
{{cite web}}: Missing or empty|title=(help) - ^ "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".
- ^ Joseph, Kalarickal P. (2005). Hormis: Legend of a Great Banker with Passion for Development : Biography of K.P. Hormis, Founder of Federal Bank. D.C. Books. ISBN 978-81-264-1117-7.
- ^ "Federal Bank IFSC Code List All Branches in India". Indian Bank IFSC Code. Retrieved 11 January 2023.
- ^ "Federal Bank to expand overseas footprints".
- ^ "Latest Shareholding Pattern - Federal Bank Ltd". Trendlyne.com. Retrieved 23 February 2023.
- ^ "Northeast United FC Sponsors List 2020". sportskhabri.com. 24 November 2020. Retrieved 30 January 2022.
- ^ "The Federal Bank Key Personnel".
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