Ethan Riley
Federal Bank Limited is an Indian private sector bank founded by K. P. Hormis in 1945. The bank is headquartered in Aluva, Kerala, and has since expanded to over 1500 banking outlets and 2000+ ATMs/CDMS across India. Federal Bank has a customer base of over 19 million and is listed on the Bombay Stock Exchange, National Stock Exchange of India, and London Stock Exchange. The bank offers a range of financial services, including commercial banking, retail and corporate banking, insurance, and treasury products.
| Characteristics | Values |
|---|---|
| Founder | K. P. Hormis |
| Year founded | 1931 |
| Headquarters | Aluva, Kerala, India |
| Number of banking outlets | 1588+ |
| Number of ATMs/CDMS | 2079+ |
| Number of overseas representative offices | 2 |
| Customer base | 19 million+ |
| Number of remittance partners | 110+ |
| Stock exchange listings | Bombay Stock Exchange, National Stock Exchange of India, London Stock Exchange |
Explore related products
What You'll Learn
Federal Bank was founded by K. P. Hormis in 1945
Federal Bank, an Indian private-sector bank, was founded by K. P. Hormis in 1945. The bank was initially a one-branch small-time setup, but Hormis' passion for institution-building saw it expand into a nationwide institution with 285 branches during his 34-year tenure.
In 1947, the bank was renamed "The Federal Bank Limited", and it continued to grow through mergers and acquisitions. By 1970, it had become a Scheduled Commercial Bank, and in 1994, it launched its initial public offering. Today, Federal Bank has over 1500 banking outlets and 2000+ ATMs/CDMS across India and representative offices in the UAE.
The founder, K. P. Hormis, played a pivotal role in shaping the bank's ethos and values. Social banking was his passion, and he laid the groundwork for extending finance to agriculture and underprivileged sections of society. His legacy is perpetuated through the Federal Bank Hormis Memorial Foundation, established in 1996, which promotes initiatives in health, education, and banking knowledge.
Federal Bank's success and enduring principles are a testament to K. P. Hormis' visionary leadership and his commitment to building a strong and socially responsible financial institution.
MMA in Banking: What Does It Mean?
You may want to see also
Explore related products
The bank has over 1588+ banking outlets and 2079+ ATMs/CDMS across India
Federal Bank Limited is an Indian private sector bank with its headquarters in Aluva, Kerala. The bank was founded by K. P. Hormis in 1945, and was named Federal Bank Limited in 1949. It is considered one of the major Indian commercial banks in the private sector.
Federal Bank has a wide network of over 1588 banking outlets and 2079 ATMs/CDMs spread across India. The bank has a strong presence in different states and also has representative offices in Abu Dhabi and Dubai. With a large customer base of over 19 million, Federal Bank has a significant impact on India's economy, handling approximately one-fifth of the country's total personal inward remittances.
The bank's services include commercial banking, retail and corporate banking, project and corporate finance, insurance, and treasury products. Federal Bank has a diverse range of clients, including corporates, trusts, partnership firms, and statutory bodies. It also offers retail banking services to individuals and small businesses.
Federal Bank has a strong focus on social responsibility and community development. The Federal Bank Hormis Memorial Foundation, established in memory of the late founder, K. P. Hormis, aims to educate people about the banking field and promote social initiatives. The foundation has been involved in various health and skill development programmes, as well as providing scholarships to deserving students for professional courses.
Bankruptcy: What Happens When Banks Fail?
You may want to see also
Explore related products
$12.99 $12.99
Federal Bank is headquartered in Aluva, Kerala
Federal Bank is headquartered in Aluva, in the state of Kerala, India. It was founded in 1931 as the Travancore Federal Bank Limited, with its headquarters in Nedumpuram, near Thiruvalla in Central Travancore. The bank was renamed Federal Bank Limited in 1949, after completing the formalities of the Banking Regulation Act, 1949. It is considered one of the major Indian commercial banks in the private sector. Federal Bank has over 1,500 banking outlets and 2,000 ATMs/CDMS spread across India and representative offices in the UAE. The bank has a customer base of over 19 million and is listed on the Bombay Stock Exchange, National Stock Exchange of India, and London Stock Exchange.
Federal Bank's founder was K. P. Hormis, who took up the reins in 1945 as its Chief Executive. During his 34 years at the helm, he grew the bank from a single-branch small-time bank to a nationwide institution of 285 branches. In 1954, he was elected to the Travancore Cochin Assembly as a candidate of the Indian National Congress. Hormis was passionate about social banking and laid the structure for extending finance to agriculture and the weaker sections of society.
Federal Bank has a strong commitment to Corporate Social Responsibility (CSR), which has been an integral part of its culture since its founding. The bank's policies and principles reflect the founder's values and ethos based on trust. The Federal Bank Hormis Memorial Foundation, established in 1996, perpetuates the memory of K. P. Hormis and strives to promote better knowledge and awareness in the field of banking through training programs, seminars, and awards. The foundation has also been involved in various social initiatives, such as 'Sanjeevani – A Shot Of Life', a private vaccination drive to boost COVID-19 vaccine awareness, and the Federal Skill Academy, which contributes to India's skilling ecosystem.
Understanding AML: The Banking Anti-Money Laundering Initiatives
You may want to see also
Explore related products
The bank has a customer base of over 19 million
Federal Bank Limited, headquartered in Aluva, Kerala, India, has a customer base of over 19 million. It is considered one of the major Indian commercial banks in the private sector. The bank has more than 1,588 banking outlets and 2,079 ATMs/CDMS spread across different states in India. It also has overseas representative offices in Abu Dhabi, Dubai, and UAE.
Federal Bank was founded in 1931 under the Travancore Companies Act and was renamed "The Federal Bank Limited" in 1949. The founder of the bank was K. P. Hormis, who took over as its Chief Executive in 1945. During his 34 years at the helm, he grew the bank from a single-branch small-time bank to a nationwide institution with 285 branches.
The bank has a strong presence in the field of social banking and was one of the first to extend finance to agriculture and the weaker sections of society. Federal Bank also has a robust Corporate Social Responsibility (CSR) programme, which has been an integral part of its culture since its inception. The bank's CSR initiatives include the Federal Skill Academy, which contributes to India's skilling ecosystem, and the Federal Bank Hormis Memorial Foundation Scholarship, which offers scholarships to needy students pursuing professional courses.
Federal Bank has a diverse range of banking and financial services, including commercial banking, retail and corporate banking, project and corporate finance, working capital finance, insurance, and treasury products and services. Its treasury segment includes trading and investments in government securities, corporate debt instruments, equity, and mutual funds. The bank's corporate/wholesale banking segment provides services to corporates, trusts, partnership firms, and statutory bodies, while its retail banking segment caters to small business customers and individuals.
Who Holds the Reins at the World Bank?
You may want to see also
Explore related products
![The Owners [Blu-ray]](https://m.media-amazon.com/images/I/81k6SApLY3L._AC_UL320_.jpg)
Federal Bank is listed on the Bombay, National, and London Stock Exchanges
Federal Bank Limited is an Indian private sector bank with its headquarters in Aluva, Kerala. It was founded in 1931 under the Travancore Companies Act and was renamed Federal Bank Limited in 1949. The bank has over 1500 banking outlets and 2000+ ATMs/CDMS across India, with representative offices in Abu Dhabi and Dubai. Federal Bank is one of the major Indian commercial banks in the private sector, with a significant international presence.
Federal Bank was founded by K. P. Hormis, who became the bank's first Chief Executive in 1945. During his 34-year tenure, he transformed Federal Bank from a small, one-branch institution into a nationwide network of 285 branches. The bank was founded on Hormis' passion for institution-building and social banking, with a focus on extending finance to agriculture and weaker sections of society.
Federal Bank has a strong commitment to Corporate Social Responsibility (CSR), which has been an integral part of its culture since its inception. The bank's ethos, based on the values of its founder, is reflected in its day-to-day operations. Federal Bank has instituted a public charitable trust, the Federal Bank Hormis Memorial Foundation, to honour its late founder and carry forward his legacy.
Federal Bank is listed on multiple stock exchanges, including the Bombay Stock Exchange, the National Stock Exchange of India, and the London Stock Exchange. This listing provides the bank with access to capital and the ability to raise funds for its expansion and growth initiatives. The bank's shares are publicly traded, allowing investors to own a part of the bank and benefit from its financial performance.
In conclusion, Federal Bank, founded by K. P. Hormis, has grown into a prominent Indian private sector bank with a strong national and international presence. Its listing on the Bombay, National, and London Stock Exchanges underscores its financial standing and provides opportunities for expansion and increased profitability. Federal Bank's commitment to CSR and its founder's values continue to guide its operations and contribute to its success.
Locating Bank 2 Sensor 1: Where Is It?
You may want to see also
Frequently asked questions
Federal Bank Limited is an Indian private sector bank founded by K. P. Hormis in 1931.
The Federal Bank Hormis Memorial Foundation is a public charitable trust instituted by Federal Bank in 1996 to honour the memory of its late founder, K. P. Hormis. The foundation aims to promote better knowledge and awareness in the field of banking through training programmes, seminars, awards, and other initiatives.
Federal Bank, founded in 1931, became Federal Bank Limited in 1949 after completing the formalities of the Banking Regulation Act, 1949. Between 1963 and 1970, Federal Bank acquired several smaller banks, including Chalakudy Public Bank and Cochin Union Bank. The bank launched its initial public offering in 1994 and opened its first overseas representative office in Abu Dhabi in 2008, followed by another in Dubai in 2016. Federal Bank has grown to become one of the major Indian commercial banks in the private sector, with over a thousand branches and ATMs across India.
