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Federal Bank
BSE: 500469|NSE: FEDERALBNK|ISIN: INE171A01029|SECTOR: Banks - Private Sector
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Company History - Federal Bank
1931 
 
 - The Bank was incorporated in 1931 as Travancore Federal Bank
 Limited to cater to the banking needs of Travancore Province by a
 small group of local citizens.  It embarked on a phase of sustained
 growth under the leadership of K.P. Hormist.  The bank
 along with six other banks co-promoted Bharat Overseas Bank Ltd.
 
 1949 
 - The Board of Directors of the Bank was reconstituted and fresh
 Articles of Association were adopted and the Bank was renamed asThe
 Federal Bank Limited.
 
 1993
  - During March, the bank issued 25,25,000 No. of equity shares of Rs
 10 each at a premium of Rs 25 per share in proportion 1:2. Another
 5,25,000 No. of equity shares were offered to the
 employees on an equity basis.  Only 30,47,894 shares of the above
 taken up (2,106 shares kept in abeyance).  Another 30,00,000 No. of
 equity shares were allotted at a prem. of Rs 30 per share to ICICI
 associates companies.
 
 1994
  - During March, the company offered to the public 35,45,500 shares
 at a prem. of Rs 80 per share.  Additional 1,72,600 shares were
 allotted to retain oversubscription.  During January 1996, the bank
 issued 74,08,122 rights equity shares (prem. Rs 140; prop. 1:2)
 73,51,734 shares taken up.
 
 1995
  - 50,50,000 No. of equity shares were issued and paid-up of which
 3,318 No. of equity shares were issued for consideration other than
 cash on 27.1.1965 to shareholders of erstwhile St. George Union Bank
 Ltd., Puthenpully, Kerala.
 
 1996
  - The Company undertook as 3 year Information Technology Strategic
 Plan 2000 for automating its branches in a phased programme.
 
 1997
  - The bank has developed Fedsoft the automation software package
 in-house which is being used by 40 branches.  An Automatic Teller
 Machine (ATM) was installed at the Vile Parle branch in Mumbai during
 the year.
 
 - The bank is the second largest private sector bank with a network
 of more than 360 branches which till recently was restricted to the
 southern States.
 
 - The Aluva-based Federal Bank Ltd. has set up its site on the World
 Wide Web on the Internet, Information about the bank and its products
 and services can be accessed form http://www.federal-bank.com.
 
 - Federal Bank has infused an additional Rs.10 crore in the equity
 capital of its investment banking subsidiary, Fedbank Financial
 Services in 1996-97.
 
 - The Federal Bank Limited, the largest scheduled bank in Kerala, had
 developed its own computer software named FedSoft. 
 
 - The software was developed by the bank in collaboration with
 Datanet Corporation, Bangalore and the package was based on
 state-of-the-art technology and the latest workflow concepts. 
 
 - Industrial Credit and Investment Corporation of India (ICICI) has
 entered into a strategic alliance with two Kerala-based private
 sector banks-Federal Bank Ltd (FBL) and South Indian 
 Bank Ltd (SIBL)-to share business interests and strategies.
 
 - Federal Bank Ltd, the largest scheduled bank in Kerala, with a
 network of over 350 branches throughout the country.
 
 - The Federal Bank Limited, the largest private sector banking
 network in the country, has taken over an Abu Dhabi-based financial
 institution Exchange Bank dealing in foreign exchange.
 
 - The Federal Bank, the largest banking network in India in the
 private sector, is working on various customer-friendly schemes in
 the wake of the liberalisation globalisation measures
 unleashed by the government. 
 
 1998 
 - The Federal Bank Limited has launched a new deposit scheme named
 Fed Flexi.
 
 - The Kochi-based Federal Bank will open 100 more branch spread
 across the country by the turn of the century.  With this, the total
 branch strength of the bank will cross 500.
 
 - The Alwaye-based Federal Bank has launched three tailor-made loan
 schemes.
 
 1999
  - As part of its plan to widen the retail credit portfolio, the
 Aluva-based Federal Bank has launched three new schemes topromote
 travel and tourism, fund short and long-term needs of
 the trading community and to finance payments of premium of LIC's
 Bima Nivesh.
 
 - Federal Bank, one of the country's old private banks, opened its
 first specialised branch for asset recovery in Mumbai on December 16,
 '99.
 
 - The Bank has also set up a target of Rs 86 crore in the current
 year for the recovery of the non-performing assets (NPAs).
 
 - The bank has set up an asset recovery department at it corporate
 office at Alwaye and strengthened asset recovery cells at regional
 offices.
 
 2000
 - Federal Bank is to foray into internet banking and E-commerce in
 the month April.  The Bank will be he first among the old private
 sector banks in the country to diversify into internet banking.
 
 - The Bank has entered into marketing pacts with some commercial
 agencies for its E-commerce business.
 
 2001 
 - The Aluva-based Federal Bank has tied up with Escotel
 Communications tolaunch mobile banking services using SMS
 technology.
 
 - Federal Bank has launched a new deposit scheme christened as
 `Suraksha' for  senior citizens.
 
 2003
 
 -Unveils Anywhere Banking  provides  the convenience of doing
 transactions from 300-plus interconnected branches
 
 -ICICI Bank divests 0.31% stake in Federal Bank.
 
 -Federal Bank cuts Home loan interest rates.
 
 2004
 
 -Achieves 100% interconnectivity among all its branches
 
 -Launches Equity Subscription Scheme, a new retail product for
 financing the IPOs and public issue applications of its customers
 
 -Acquires a prime property in Chennai-owned by Ramco Super Leathers
 under Securtisation and Reconstruction of Financial Assets and
 Enforcement of Security Act. The property, spread over six grounds
 and 26,000 sq ft on Anna Salai, is estimated to have a market value
 of Rs 16 crore.
 
 -Federal Bank unveils treasurer's calendar
 
 -Federal Bank join hands with ICICI Prudential Life Insurance Co.
 Ltd.  for premium collection through its branches
 
 -Federal Bank introduces new Fed e-Pay services
 
 2005
 
 -JRG Securities Ltd has forged alliance with Federal Bank Ltd for
 providing loans for subscribing to initial public offers (IPOs).
 
 -FedBank gets award for best use of IT
 
 -Federal Bank keen on merger with southern entity
 
 2006
 
 -Federal Bank to acquire Ganesh Bank
 
 -Federal Bank rolls out savings deposit schemes
 
 -Federal Bank gets banking tech awards
 
 -Federal Bank bags YMCA award
 
 -IDBI Bank, Fortis join Federal Bank for risk JV
 
 2007
 
 -The company has issued rights in the ratio of 1:1 at a premium of
 Rs.240/- Per Share.
 
 -Federal Bank buys stake in LVB, South Indian
 
 -Federal Bank to set up office in Abu Dhabi
 
 -Federal Bank Ltd Issues Rights in the Ratio of 1:1
 
 2008
 
 -Federal Bank Ltd has informed that Reserve Bank of India vide letter
 dated July 08, 2008 approved the appointment of Shri. P R
 Kalyanaraman, Executive Director as Whole Time Director of the Bank
 for a period of 3 years w.e.f. January 03, 2008.
 
 
 2009
 
 - Federal Bank in association with Geojit Financial Services has
 unveiled its online trading product called Fed-e-Trade as part of the
 bank's efforts to provide various products and services to customers.
 However, the retail clients of the bank will now have the access to
 online trading in equities as well as the derivatives, IPOs and
 mutual funds through Geojit's online trading platform.
 
 - Federal Bank Ltd has informed that Dr. M Y Khan has been appointed
 on the Board of the Bank as a non-executive, independent director.
 
 - Federal Bank has launched a call centre facility where the 24-hour
 service of the contact centre would be available on dialing a
 toll-free number 18004251199.
 
 2010
 
 - Federal Bank unveiled FedSelect, a premium product for their high
 networth individual (HNI) customers.
 
 - Shyam Srinivasan has taken charge as the Managing Director & CEO of
 Federal Bank with effect from September 23.
 
 - Federal Bank Ltd has appointed Shri. Shyam Srinivasan as Managing
 Director & Chief Executive Officer of the Bank.
 
 2011
 
 -Federal Bank signs deal with Al Ansari Exchange
 
 -Shri Nilesh S. Vikamsey has been appointed Director of the Bank.
 
 2012
 
 -Federal Bank has introduced its 1000th branch at Muthoor near
 Thiruvalla in Kerala to become the first Kerala based bank to cross
 this mark.
 
 -Federal Bank has launched a real time funds transfer service for its
 customers for transferring funds to merchants and enterprises through
 mobile phones.
Source : Dion Global Solutions Limited
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