2017-10-17 :Higher advances lift Federal Bank net 31%
Federal Bank has reported a 31 per cent rise in its September quarter net at Rs 263.70 crore. This can be contributed to core income growth and better asset quality in corporate loans.
2017-06-13 :Federal Bank projects a loan growth of 20 per cent during FY17
Leading private sector lender, Federal Bank is expecting a loan growth of 20 per cent during FY17. The bank has notified that it has successfully handled its rising bad loans and non performing assets (NPAs) during the current fiscal and it is further aiming to achieve strong growth in its retail segment and priority sector lendings in the coming months.
2017-05-23 :Federal Bank launches new trading platform
Federal Bank has announced to launch a new trading platform, “selfie” for its customers in association with Geojit, a retail financial services company. The newly launched trading platform will enable its users to trade directly from the advanced charting platform and have control over their investments. Currently, the trading platform is available only to the android and IOS users.
2017-04-18 :Federal Bank’s IFSC business crossed $200 million
Federal Bank, one of the India’s leading private banks has said it has crossed the $200-million mark in total business at its IFSC Banking Unit (IBU) in GIFT (Gujarat International Finance Tec) City. The bank’s IFSC unit offers various financial services such as funded and non-funded facilities to overseas operations, extending loans to overseas business ventures of NRIs and trade finance solutions to the Indian clients.
2017-04-13 :IFC to provide $100 million loan to Federal Bank
The World Bank’s private-sector investment arm, International Finance Corporation plans to provide a loan of $100 million to Federal Bank Ltd. This will be used to fund its branch at the International Financial Services Centre in Gift City, Gujarat. In a disclosure, IFC said that this funding support will help the bank’s clients in growing the business and the initiative of the GIFT City for creating 500,000 jobs by 2020.
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