Federal Bank

YEAR                                                        EVENTS
 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
 as
        The 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 to
        promote 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 to
               launch 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).