The term R.E.A.C.H does not just denote pan-India expansion that Federal Bank has undertaken; each of the letter encapsulates the defining features of the Bank – that enable a deeper connection with customers and other stakeholders.
-
C
delivering exceptional value and creating a future that is inclusive and resilient.
We are reaching every corner of India to meet our ever-growing number of customers through our branches and digital solutions. Our objective is to become the most admired financial institution in the nation and for all our stakeholders by offering the highest levels of service.
0 Crore+
Happy Customers
0
Banking Outlets*
* Including extension counters0
ATMs/Cash Recyclers*
* Including 2 Mobile ATMsWe have adopted a multi-pronged approach and are continually investing to increase our footprint pan-India. Along with our branch and ATM expansion and enhanced digital capabilities, we rely on alternate channels, including partnerships, to improve our customer reach.
Read More(Stake: 100%)
Federal Operations & Services Limited (FedServ) is a wholly owned subsidiary of Federal Bank that carries out operational and technology-oriented activities of our Bank.
(Associate, 26% stake)
Ageas Federal Life Insurance Company Limited (AFLIC) prominent life insurance companies. It is a joint venture between Ageas, an international insurance giant based out of Europe, and Federal Bank.
(Stake: 61.58%)
Established in 1995 and headquartered in Mumbai, Fedbank Financial Services Limited, is a publicly listed Company (NSE: FEDFINA; BSE: 544027), operating as a subsidiary of The Federal Bank Limited.
(Associate, 19.59% stake)
It provides Investment Banking, Fixed Income, Insurance Broking, Institutional Equities, Portfolio and Wealth Management Services.
0
States
0
Union Territories,
including Delhi NCT
0
Dubai & Abu Dhabi
Representative Offices
Gujarat International
Finance Tech-City (GIFT)
IFSC Banking Unit (IBU)
Customer Delight
In FY 2023-24, 94.30% of Federal Bank's transactions went digital, solidifying its leadership in banking. To sustain this momentum, we are continuously enhancing our digital prowess through AI and Machine Learning. This enables personalised customer experiences and quicker decision-making, positioning us to capitalise on new market realities.
` 0 Crore
Mobile Banking
Volume in March 2024
0
Playstore Rating
for FedMobile App
in March 2024
0%
Increase in Digital
Transactions Count
0%
Increase in Mobile
Transaction Volume for
March 2024 vs March 2023
our Stakeholders
` 0 Crore
Highest-ever Profit After Tax (PAT)
24% Y-o-Y(` 3,011 Crore in FY 2022-23)
` 0,00 Crore
Net Advances
20% Y-o-Y(` 1,74,447 Crore in FY 2022-23)
` 0,0 Crore
Deposits
18% Y-o-Y(` 2,13,386 Crore in FY 2022-23)
0%
Capital Adequacy Ratio
(14.81% in FY 2022-23)
0%
Net NPA
(0.69% in FY 2022-23)
0%*
Provision Coverage Ratio
(70.02% in FY 2022-23)
*excluding Technical Write Offs'
#Includes the amount of ` 13.46 Crore spent during the year from the Unspent CSR Account of FY 2022-23
Grow Green Portfolio
Phase-out of Coal related Exposure
Finance Women Entrepreneurs – BC Channel
Bank Premises to be Green Certified
In-house Solar Power Generation and Capacity
Water Conservation Capacity
Gender Diversity Ratio (Women)
Banking
Dear Stakeholders,
It is my privilege to present to you the Federal Bank Annual Report FY 2023-24, which marks our first integrated report.
Read Full Statement
MD & CEO
Dear Shareholders,
As I sit down to write this letter, my last one as the MD of this fantastic franchise, I am filled with both gratitude and pride. I can’t help but cast my mind back to my first letter, fourteen years ago.
Read Full Statementin Action
We aim to create long-term sustainable value for stakeholders. This was another year of customer-centric performance and consistent growth, and we are confident about maintaining this momentum through business cycles.
Net Interest Income (` in Crore)
Net Total Income (` in Crore)
Operating Profit (` in Crore)
Net Profit (` in Crore)
Earnings Per Share (Basic) (`)
Book Value Per Share (`)
Deposits (` in Crore)
Net Advances (` in Crore)
Y-o-Y Growth RoA (%)
Provision Coverage Ratio* (%)
Gross NPA (%)
Net NPA (%)
Capital Adequacy Ratio and Tier 1 Capital (%)
Tier 1Delivering Value
Financial Capital
` 0,0 Crore
Total Deposits
` 0 Crore
Shareholders' Funds
` 0 Crore
Borrowings
Human Capital
` 2,823.09 Crore
Employee Cost
25
Number of States/UT Hired from
5.5 days
Average Training Duration per Employee
Social and Relationship Capital
` 68,114.16 Crore
Total Priority Sector Lending
` 60.67 Crore#
CSR Expenditure
Intellectual Capital
` 663.7 Crore
Spend on Technology
75 +
No. of Fintech Partnerships
Natural Capital
142,626.11 GJ
Total Electricity consumption
6
No. of Green Certified Premises
7.83% of CAPEX
Investment in Energy & Water Conservation Projects
Manufactured Capital
1,504
Total number Banking outlets
2,015
Total no. of ATMs/CDMs
Financial Capital
` 3,721 Crore
PAT
18%
Increase in total deposits
14.73%
Return of Equity (RoE)
Human Capital
` 31.92 Crore
Business Per Employee
3.19%
Voluntary attrition rate (Less by 15% compared to y.o.y)
47.83%
New Women Hires
Social and Relationship Capital
4,61,271 Individuals
Total Enrolment to Social Security Schemes
40,95,790 Individuals
Total CSR Beneficiaries
Intellectual Capital
94.30%
Share of Digital Transactions
4.6
Android App Rating
Natural Capital
90901 kWh
Electricity Saved
2.81 million metric tonnes
Avoided Emissions through Green Lending (CO2e per annum)
~2.5 Lakh litres
Water Saved
Manufactured Capital
64%
Semi urban and rural branches
1.82 Crore
Total customers served
Collaboration
Our stakeholders are those who are most impacted by our business activities. We proactively engage with them through a variety of channels to understand their concerns and interests to provide the most beneficial responses.
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Assessment
At Federal Bank, materiality assessment is a cornerstone of our commitment to integrating sustainability into our business strategy. We conducted our materiality assessment in FY 2022-23, aligning with the Global Reporting Initiative (GRI) standards.
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Course to
Become the Most Admired Bank
To emerge as the Most Admired Bank in India, we have aligned our activities with this vision, striving for higher, sustainable, and more inclusive growth.
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In today’s ever-evolving financial landscape, effective risk management is fundamental to safeguarding our Bank’s stability and achieving long-term success.
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Federal Bank’s robust ESG strategies, set by the Board, are closely aligned with our Bank’s risk appetite and ESG roadmap. We have committed to several ESG targets in the medium and long term, and our progress is closely monitored by the Board and transparently conveyed to external stakeholders. The core values framework encompasses all three pillars of ESG
Greener Tomorrow
We have just one planet, and its well-being is closely linked to our own. Our efforts to reduce GHG emissions, decrease energy consumption, minimise the use of plastic, encourage digital applications, and promote environmentally responsible investments are spurred by this fundamental realisation.
Foundation
We are committed to empowering our investors to actively participate in our governance, share our sustainable profits, and gain a comprehensive understanding of our financial health through a culture of transparent and proactive engagement. We strive to build strong shareholder connections and create a long-term, sustainable business model that you will be proud of.
of Integrity
Federal Bank is strongly dedicated to maintaining the highest standards of governance, ethics, and integrity. To safeguard the security and stability of our banking services, we adopt best-in-class banking practices and maintain strong institutional governance and risk frameworks. These frameworks and practices undergo periodic review to adapt to the evolving operating environment.
Madhava Raju
Customer
We are also part of IIHT Education Group and Fare
Labs Technology Group.
We are a Bank whose all actions are directed keeping customer at the core."
"We are also part of IIHT Education Group and Fare Labs Technology Group. I have been in Business for last 30 years – education, real estate, hospitality – to name a few. I have seen India grow, and I know it has a great future going ahead. Currently, our infra business and real estate business are consolidating on office parks, hotels, residential apartments and I expect we will spend a lot of time and money in that. We have been banking with Federal Bank for years. What separates them is that most Banks don’t understand customer requirements. The way Federal Bank understands Rishta or relationship is unparalleled. They understood our nature, our business requirements and customised solutions to meet our requirements.
They are always just a call away anytime we have any need. We have not even looked at other options. Wish I found this Bank earlier in my life."
Neville Paul
Customer
Greetings from Safrroys, I am Neville Paul. I want to congratulate Federal Bank for reaching the milestone of being in Kolkata for last 50 years. I am proud to say that my father was the second account holder of Federal Bank in Kolkata.
These are the kind of relations we have built that enable us to achieve our best year after year."
“Greetings from Safrroys, I am Neville Paul. I want to congratulate Federal Bank for reaching the milestone of being in Kolkata for last 50 years. I am proud to say that my father was the second account holder of Federal Bank in Kolkata.
During this time that we have been associated with Federal Bank, we have got the utmost support from the Bank at our lows, and we look forward to being with Federal Bank during the years ahead – both lows and the highs – for both my generation and the next generation!"
The Financial Action Task Force (FATF) leads global action to tackle money laundering, terrorist and proliferation financing.
The FATF promotes global standards to mitigate the risks, and assesses whether countries are taking effective action. A meeting was convened by the Assessment Team of FATF at Mumbai in November 2023. The FATF delegation to India was led by Central Bank of Brazil and other member countries viz.
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The Financial Action Task Force (FATF) leads global action to tackle money laundering, terrorist and proliferation financing. The FATF promotes global standards to mitigate the risks, and assesses whether countries are taking effective action. A meeting was convened by the Assessment Team of FATF at Mumbai in November 2023. The FATF delegation to India was led by Central Bank of Brazil and other member countries viz. South Africa, the UK, the US and Japan. This is a once-ina- decade evaluation where select banks are chosen by the Ministry of Finance (Dept of Revenue) and RBI to interact with the Assessors based on its effectiveness in demonstrating capabilities, structuring the framework and operational measures after several rounds of filtering. We are proud that our Bank was chosen along with four other Banks to represent the country.
This shows that our strategic priorities and sustainable business practices lead to the creation of value for all our stakeholders, including investors, customers, employees, partners, communities and government and regulatory authorities.
Jimmy Raju
Customer
In 1994, Jimmy Raju founded Grandma's pickles in Marady, Kerala, with the goal of creating a highquality pickle brand.
With initial financial support from her husband, she built a solid business strategy and earned the trust of lenders. A loan from Federal Bank enabled her to expand Grandma's beyond regional markets and start exporting to Europe. “This support has been a morale booster in my journey as an entrepreneur,” says Jimmy.
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For us, being Human at the Core is not just a mantra but is something very strongly embedded into our DNA. Jimmy’s story is a testimony to our “Rishta Aap Se Hai sirf App Se Nahi” TM concept that signifies our strong bond with customers."
In 1994, Jimmy Raju founded Grandma's pickles in Marady, Kerala, with the goal of creating a highquality pickle brand. Despite early success, Jimmy faced challenges in securing funding due to limited collateral and hesitant traditional lenders. With initial financial support from her husband, she built a solid business strategy and earned the trust of lenders. A loan from Federal Bank enabled her to expand Grandma's beyond regional markets and start exporting to Europe. “This support has been a morale booster in my journey as an entrepreneur,” says Jimmy.
Today, Grandma's employs over 200 people, becoming a critical source of livelihood for many.
Recognised as the ‘Bank of the Year 2023’ in India instituted by The Banker, a well-known publication under the Financial Times umbrella
Won the ‘Future Ready Organisations Award 2023-24’ – Economic Times
Honoured with ‘Amity Banking Excellence for Sustainable Banking’
Recognised as the ‘Best AI & ML Bank’, Runner-up in ‘Digital Engagement’ and received a special mention for driving Financial Inclusion by the Indian Banks Association
Recognised as the ‘Best Bank in Fintech’ initiative - Business Today
Won 5 Awards in different categories at the Indian Chamber of Commerce Emerging Asia Banking Awards
Ranked the 1st Runner-Up in the ‘Diversity & Inclusion Excellence Award’ in the category of ‘Best Employer for Women’ (In Large Category) from The Associated Chambers Of Commerce And Industry Of India (ASSOCHAM)
Recognised as ‘ESG Champions of India 2024’ in the Commercial Banks sector at the Dun & Bradstreet ESG Leadership Summit 2024
