Company 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 | 1,518 branches (2024) |
Key people | KVS Manian (MD & CEO) |
Products | |
Revenue | ₹25,267.53 crore (US$3.0 billion) (FY24) [2] |
₹5,174.48 crore (US$620 million) [2] (FY24) | |
₹3,720.60 crore (US$450 million) (FY24) [2] | |
Total assets | ₹308,311.80 crore (US$37 billion) (FY24) [2] |
Number of employees | 15,200+ [2] |
Capital ratio | 16.13% [2] |
Website | federalbank.co.in |
Federal Bank Limited is an Indian private sector bank headquartered in Aluva, Kerala. [3] The Bank has 1518+ banking outlets and, 2042+ ATMs/ CDMS spread across different states in India and overseas representative offices at Abu Dhabi and Dubai. [2]
With a customer base of over 18.5 million, [2] and a large network of remittance partners around the world, Federal Bank handles more than one fifth of India's total inward remittances, approximately. The bank has remittance arrangements with more than 110 Banks/Exchange Companies around the world. [4] 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]
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 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. [7] 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.
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] [9]
Current Board of Directors [18] are:
Federal Bank has instituted a public charitable trust by name Federal Bank Hormis Memorial Foundation [19] to perpetuate the fond memory of late K. P. Hormis, the founder of the Bank. The Trust is striving hard to inculcate in people better knowledge and awareness in the field of banking through training programmes, focused seminars, awards and so on. The trust and its activities were inaugurated by the then Union Finance Minister Shri. P. Chidambaram at Ernakulam on 18.10.1996.
For Federal Bank, Corporate Social Responsibility (CSR) has been an inherited and inbuilt element of its culture from the day the Bank was founded. The Founder's values and ethos based on trust got embedded in the Bank's policies and principles which reflect on its day-to-day business. CSR in Federal Bank began with the first act of cultivating banking habits in an agrarian society - to effectively utilize idle money for productive purposes.
In October 2023, Federal Bank Hormis Memorial Foundation, News 18 Network, and Tata Trusts unveiled ‘Sanjeevani- United against Cancer’. [21] ‘Sanjeevani’ mission is to build awareness, encourage screening and testing for Cancer. Through this initiative, the Bank aims to raise awareness of the prevention of cancer, helping individuals fight the social stigma associated with the disease and the hesitation to opt for early detection and diagnosis.
In April 2021, News18 and Federal Bank Hormis Memorial Foundation partnered to uplift societal health through its reach across the country through 'Sanjeevani – A Shot Of Life', [22] India's largest private vaccination drive to boost COVID-19 vaccine awareness. The Bank led the campaign across 1000 villages of 5 districts of 5 different states touching more than 24 Lakh lives. [23]
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