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.
2013
-Federal Bank launched its Online Religious Offering Services
Bouquet in association with the prestigious Sree Padmanabhaswami
Temple, Thiruvananthapuram.
-Bank entered into a tie up with Tata Communications Payment
Solutions Ltd (TCPSL) for acting as the sponsor bank for white label
ATM's to be deployed by TCPSL. Federal Bank is the first bank in
India to be the sponsor bank for White Label ATM's.
-Federal Bank won IBA Innovation Award 2013 for FedBook, the mobile
passbook application.
-Federal Bank has splits its face value from Rs 10/- to 2/-
2014
-Federal Bank won Finacle Client Innovation Award
-Federal Bank won MasterCard Innovation Award 2014
-Federal Bank won ACI Excellence Award 2014 for the category Customer
Service
2015
-Federal Bank opens branch at Thiruvananthapuram
-Federal Bank offers health insurance for all new savings A/c
-The Company has allotted the Bonus Shares to its shareholders in the
Ratio of 1:1.
2016
- Federal Bank tie-up with Transfast Remittance LLC for Inward
remittances from USA
- Federal Bank ties with Philip Capital for managing PIS
2017
-Federal Bank received Runner Up award for maximum RUPAY cards issued
bank - 2016.
-Federal Bank won SKOCH Smart Technologies Gold Award for 2016.
-Federal Bank won the award for the best use of Digital and Channels
Technology among Small banks in the IBA Banking technology
Conference, Expo & Awards 2017.
-Federal Bank gets MasterCard Innovation Awards 2016 under Two
categories.
2018
-Federal Bank Launches Open Banking Platform.
-Federal Bank Wins Award for Best Use of Block Chain Technology.
-Federal Bank ties up with Fortune Wealth to offer PIS services.
-Federal Bank gets RBI nod to enter Bahrain, Kuwait, Spore.
2019
-Federal Bank launched the highest variant of SB account Celesta. The
new SB variant is designed in such a manner that it will provide
contemporary best in class offerings to the customers and a Beyond
Banking experience.
-Federal Bank developed a new solution, avail Advance Against Deposit
by sending just an SMS/ making a Missed call.
-Federal Bank launched Contactless Debit cards. Contactless is the
latest digital card payment technology which will help you to spend
less time at the cash counter.
-Federal Bank introduced online Demat account opening facility
through FedNet, its Internet Banking portal.
2020
-Federal Bank introduced Fed-e-Point, a customer self service portal
where all the self-services facilities offered to the customers are
available under a standard user interface and with single sign-on
authentication.
-Federal Bank introduced FEDDY, an AI powered Virtual Assistant of
Federal Bank. It is backed by the state-of-the-art machine learning
algorithms from Google.
-Federal Bank introduced BYOI - Buy Your Own Insurance, which
facilitates the customer to buy insurance products himself, through
Federal Bank website.
-Federal Bank introduced VAO (Video-KYC for Account Opening) using
which we can do customer identification process and allow opening of
a full-fledged savings account.
-Federal Bank introduced GoNoGo, a Digital Lending Platform for
quick sanction of Auto Loans.
2021
-Federal Bank launched MahilaMitra Plus, an exclusive savings
account for women that offers curated set of features, designed to
make financial planning and investments easy and hassle free.
-Federal Bank launched Imperio Family Banking, which is an
impeccable banking service which is designed to suit the uniqueness
of the targeted mid-HNI customer segments.
-Federal Bank introduced Fed Smart Saver Gold Loan Scheme, an
innovative gold loan scheme that rewards the promptly repaying smart
customer with 50% of the interest as rebate.
-Federal Banks own Credit Cards (Celesta, Imperio and Signet) were
launched for Existing to bank Pre-Approved customers.
-Federal Bank introduced Self-Service Passbook Printing Kiosks at
select branches.
2022
-Federal Bank and Aditya Birla Health Insurance enter bancassurance
partnership.
-Federal Bank launches an exclusive feature-rich scheme for women.
-Federal Bank launches Credit Cards in association with Visa.
-Federal Bank partners with OneCard to offer mobile-first Credit
Card.
-Federal Bank Expands Collaboration with Oracle and Infosys to
Implement a Cloud-Based Customer Relationship Management System.
2023
-Federal Bank Launches Exclusive NR Savings Accounts for NRI Women.
-Federal Bank celebrates Adyar and its people through an
extraordinary initiative.
-Federal Bank Inaugurates New Branch in Ambernath, Expanding its
Presence in Maharashtra.
-Federal Bank Introduces Cheque DD Collection Kiosk in Patna City for
tax payments.
-Federal Bank launches RuPay backed NCMC wallet Debit Cards.
-Federal Bank wins the title 'Bank Of The Year 2023' in India
instituted by 'The Banker'.
-Federal Bank is featured among India's Best WorkplacesTM for
Millennials 2023.
-Bank introduced Lifetime Free Credit Card offer, under which Federal
Credit Card holders can enjoy Zero Joining Fee and Zero Annual
Membership Fee for the entire life term.
