Federal Bank

Federal Bank Limited is an Indian private sector bank headquartered in Aluva,Kochi, Kerala. The bank has 1,370 branches spread across different states in India.[2] It also has representative offices abroad in Abu Dhabi, Qatar, Kuwait, Oman, and Dubai.[3]

Not to be confused with Federal Reserve Bank.

Federal Bank Limited
TypePublic
NSE: FEDERALBNK
BSE: 500469
LSE: FEDS
IndustryBanking
Financial services
Founded
  • 23 April 1931 (1931-04-23)
    (as Travancore Federal Bank) at Nedumpuram, Thiruvalla
  • 2 December 1949 (1949-12-02)
    (as Federal Bank)
FounderK. P. Hormis[1]
HeadquartersAluva, Kochi, Kerala, India
Number of locations
1,370 branches (2023)
Key people
Shyam Srinivasan
(MD & CEO)
Products
RevenueIncrease₹15,142.16 crore (US$1.9 billion) (2020)[2]
Increase ₹3,204.70 crore (US$400 million) (2020)[2]
Increase ₹1,542.78 crore (US$190 million) (2020)[2]
Total assetsIncrease₹201,367.39 crore (US$25 billion) (2021)[2]
Number of employees
12,592 (2021)[2]
Capital ratio14.62%[2]
Websitefederalbank.co.in

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.[5] 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.[6]

History

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.[7]

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 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.

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 November 2016, Federal Bank opened its second UAE representative office, in Dubai.[8]

Shareholding

As of December 2022, the institutional holding at the bank is 70.08%, and the public holding is 29.93%.[9]

Sponsorships

Board of directors

Current Board of Directors[11] are:

  • A P Hota–Chairman and Independent Director
  • Shyam Srinivasan - Managing Director & CEO
  • Siddhartha Sengupta - Director
  • Manoj Fadnis - Director
  • Sudarshan Sen - Director
  • Varsha Purandare - Director
  • Sankarshan Basu - Director
  • Ramanand Mundkur - Director
  • Shalini Warrier - Executive Director
  • Harsh Dugar - Executive Director

See also

References
  1. "Federal Bank Founder". Federal Bank. Retrieved 2 September 2023.
  2. "Annual Report 2020-21". Federal Bank. Retrieved 2 September 2023.
  3. "Overseas Representative Office".
  4. "India highest recipient of remittances at $79 bn in 2018: World Bank". The Economic Times. Press Trust of India.
  5. "Federal Bank installs 100 KWp solar plant at Aluva office". adda247.com. 24 February 2023. Retrieved 2 September 2023.
  6. "Federal Bank IFSC Banking Unit (IBU), GIFT City".
  7. 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.
  8. "Federal Bank to expand overseas footprints".
  9. "Latest Shareholding Pattern - Federal Bank Ltd". Trendlyne.com. Retrieved 23 February 2023.
  10. "Northeast United FC Sponsors List 2020". sportskhabri.com. 24 November 2020. Retrieved 30 January 2022.
  11. "The Federal Bank Key Personnel".


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