Federal Bank (FEDBANK), incorporated in 1931, is one of the oldest private sector banks in India having a significant presence in Kerala. Earlier known as Travancore Federal Bank, the board resolved to change its name to the present one on Mar. 24, 1947.
The bank offers corporate finance, merchant banking, export finance and all traditional banking services.
Retail advances, agricultural loans and lending to small and medium enterprises form a major part of its business. Another significant component is the NRI segment.
The bank has opened a representative office at Abu Dhabi in UAE, which operates as the gateway to the Middle East and as an interface between its existing customers of GCC countries and branches and offices in India. Sale of gold coins and ingots through selected branches is a new activity started. A total of 62 branches were specially designated in FY08 for handling foreign exchange.
Fee-based services such as cash management, depository services, international debit cards, distribution of insurance/mutual fund products are offered. The bank has formed IDBI Fortis Life Insurance Company, a joint venture life insurance company in association with IDBI Bank and Fortis Insurance International N.V., which commenced operations in March 2008.
In the annual survey conducted by Business Today in association with KPMG Consulting, the bank was adjudged the most efficient in the large bank category for the second year in a row. It has also won the Best Core Banking Project Award 2007 at the Asian Banker IT Implementation Awards 2008.
As on Mar. 31, 2008, the total number of branches and ATM centers of the bank has gone up to 603 and 532 respectively. FedBank Financial Services is a fully owned subsidiary of the bank. The registered office is located at P.B. No. 103, Federal Towers, Aluva-683101, Kerala.
The bank offers corporate finance, merchant banking, export finance and all traditional banking services.
Retail advances, agricultural loans and lending to small and medium enterprises form a major part of its business. Another significant component is the NRI segment.
The bank has opened a representative office at Abu Dhabi in UAE, which operates as the gateway to the Middle East and as an interface between its existing customers of GCC countries and branches and offices in India. Sale of gold coins and ingots through selected branches is a new activity started. A total of 62 branches were specially designated in FY08 for handling foreign exchange.
Fee-based services such as cash management, depository services, international debit cards, distribution of insurance/mutual fund products are offered. The bank has formed IDBI Fortis Life Insurance Company, a joint venture life insurance company in association with IDBI Bank and Fortis Insurance International N.V., which commenced operations in March 2008.
In the annual survey conducted by Business Today in association with KPMG Consulting, the bank was adjudged the most efficient in the large bank category for the second year in a row. It has also won the Best Core Banking Project Award 2007 at the Asian Banker IT Implementation Awards 2008.
As on Mar. 31, 2008, the total number of branches and ATM centers of the bank has gone up to 603 and 532 respectively. FedBank Financial Services is a fully owned subsidiary of the bank. The registered office is located at P.B. No. 103, Federal Towers, Aluva-683101, Kerala.
