About
Federal Bank is an Indian commercial bank that has its headquarter at Aluva, Kerala. This private sector bank has more than 1000 branches and ATM spread in different states of India. Using the leading technology to influence its operation, Federal Bank is the first bank that computerised all its branches. Federal Bank has more than 10 million customers. This also includes 1.5million of NRI customers with a huge network of remittance partners all over the world. Federal Bank has remittance arrangements with more than 15% of India's inward remittances
Listing And Revenue:
Federal Bank is listed in the BSE, NSE, and London Stock Exchange.
| Revenue | ₹ 15,142.16 crore |
| Operating Income | ₹3,204.70 crore |
| Net Income | ₹ 1,542.78 crore |
| Total Assets | ₹ 180,638.05 crore |
Product And Services
The bank offers its valued customers Wholesale Banking, Internet banking, Retail Banking, Mobile banking, Mortgage loans, on-line bill payment, Wealth management, Cash Management Services, online fee collection, Debit cards, mutual fund products, depository services, Credit cards, merchant banking services, Investment banking, and insurance. With all these services, the bank has maned to position itself as financial platform with enhanced customer convenience
History
The Federal Bank Limited was started with an authorised capital of rupees five thousand in Central Travanco 1931. This clearly shows that Federal Bank is into existence even before the pre-independence era. Late K.P. Hormis was the founder and visionary banker who built Federal bank and turned it into a nationwide institute. This bank was incorporated under the Travancore Company's Act to perform banking services associated with agriculture and industry
On December 2,1949, the bank got its name as The Federal Bank Limited with a licence under the Banking Regulation Act, 1949.
On July 11, 1959, Federal Bank was declared as the commercial bank under the Reserve Bank of India Act, 1934.
Between time span of 1963 and 1970, Federal Bank took Marthandam Commercial Bank, Cochin Union Bank, St. George Union Bank , and Chalakudy Public Bank.
In 1970Federal Bank was declared a scheduled commercial bank with initial public offering. It was also the Silver Jubilee Year since it started its operation in Aluva.
In the year 2008 , January Federal Bank its first overseas representative office was started in Abu Dhabi.
In the year2016, November, in Dubai the bank started its another UAE representative office .
Acquisition
Federal Bank is the Leading Sponsor of NorthEast United FC of Indian Super League.
Awards And Recognition
It Won Bank of the Year at the Dhanam Banking and Finance Summit, Won 1st prize in Best Technology Bank award organized by IBA, Won National Payment Excellence Award, Adjudged winner of "best use of blockchain technology" at Drivers of Digital awards, Instant Account Opening received awards for SKOCH Technologies for Growth Award, Won MasterCard Innovation Awards 2016 under Two categories, Won Banking Frontier's Finnoviti 2015 Award, Won Greentech HR Award 2014, and Won IBA Innovation Award 2013 for FedBook among others.
Subsidiaries
Fedbank Financial Services Ltd which is also known as FEDFINA was incorporated as wholly owned subsidiary of the Federal Bank Ltd. In the year 2010, it received the NBFC license from the Reserve Bank. Fedbank is a known NBFC in the country that offers wide range of service portfolio and aggressive expansion blueprint. The following companies became direct subsidiaries of Fedbank including Fedbank Financial Services Limited, Federal Operations and Services Limited, Federal Bank Ltd., Asset Management Arm, and Federal Bank International.