- Moves into top league private commercial banks in India by crossing 1000th branch milestone
- · First amongst banks headquartered in Kerala to cross the 1000th branch mark
- · Announces blood donation initiative with Indian Medical Association till October 18
Riding high on its consistent growth and national expansion initiatives, Federal Bank, one among the top league private commercial banks in India, crossed a milestone in branch expansion by the launch of its new branch at Muthoor, Thiruvalla, which is its 1000thbranch in the country. In an auspicious function befitting the occasion, Honorable Mr. Vayalar Ravi, Minister of Overseas India Affairs, Science and Technology, Earth Sciences and Micro, Small and Medium Enterprises gave his message during the formal inauguration of the facilities in the presence of Marthoma Valiya Metropolitan, His Grace, Bishop Dr. Philipose Mar Chrysostom, His Grace Dr. Joseph Mar Thoma Metropolitan, Mr. Anto Antony, MP, Pathanamthitta, Smt Linda Thomas Vanchipalam, Municipal Chairperson, Mr. P C Cyriac, Chairman, Mr. Shyam Srinivasan, MD & CEO, Directors and senior management officials of the Bank. The gathering represented dignitaries from religio-political circles and the public from various districts of the state. Many customers from all over the country attended the launch function. The launch of the 1000th branch coincided with the first day of Malayalam calendar year, Chingam 1, 1188. It was on the same day that Federal Bank had begun its journey with the opening of its first branch.
In tandem with excellence in business performance, the bank has put its best foot forward in CSR initiatives too for which it was honored with awards and accolades. On the fringes of the inauguration of its thousandth branch at Muthoor, Thiruvalla, the Bank announced of its resolve to donate 1000 units of blood in association with Indian Medical Association (IMA) over the two month period from August 17 to October 18, when the Bank would celebrate its Founder’s day.
Mr. Shyam Srinivasan, MD & CEO, Federal Bank said, “With a business size of more than Rs 88000 crore as at June 30, 2012, Federal Bank commands a leading position amongst private sector players in India. The Bank aims to become a dominant player in the Indian banking sector, establishing a significant presence in select states and segments. Federal Bank has registered a quarterly profit of Rs.190.35 crore as on June 30, 2012. The bank has been working on its transformation and adopting contemporary management techniques. The Bank delivered substantial growth in top line and bottom line despite the challenging macro environment. The Bank intends to maintain and consolidate its leadership position by virtue of the growth journey it has embarked upon.”
With the inauguration of Muthoor branch, Federal Bank has the distinction of being the first among Banks headquartered in Kerala to cross the 1000 branch mark. Federal Bank has 542 branches in Kerala and 458 branches spread over the other states of India. All the branches of the Bank are equipped with facilities such as ATM, NRI Services, Core Banking Solution, RTGS/NEFT, Net Banking Facility, Mobile Banking, International Debit Card, all types of deposits and advances, Life & General Insurance products and Mutual Funds. Also, the bank has got a popular Rewards programme offered as Utsav Rewards for usage of Debit Cards. The bank has mobile banking facility, “FedMobile” – that enables customers to access banking facilities through their cell phone. Federal Bank’s ATMs are spread over all major cities and towns across the country.
During the quarter ended June 2012, total business of the Bank touched Rs. 88,601 crore, showing an increase of 18.28 % on a y-o-y basis. Total deposits increased by 17.75% from Rs. 42,936 crore as on 30/06/2011 to Rs. 50,558 crore as on 30/06/2012. CASA deposits constitute 28.35% of its Deposit Mix. Net advances went up by 18.99 % to Rs. 38,240 crore as on 30/06/2012 from Rs. 31,972 crore as on 30/06/2011. This growth was contributed by SME, corporate advances and retail segments.
The Bank has a net worth of Rs. 5,897 crore, making it one among the top league of strong banks in India. As on date, Federal Bank’s 1,000 branches are spread over various important locations in India, supported by 8 Zonal Offices and 31 Regional Offices. All the branches of the Bank are operating under Core Banking Solution and are fully networked. The Bank has three variants of VISA International Debit Cards; viz. Platinum, Gold and Shop-n-Save, and these cards are acceptable at all VISA ATMs and POS centers across the world. The Bank provides master cards also.