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.

A
b
o
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t
F
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d
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r
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B
a
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k
P
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s
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f
E
x
c
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l
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n
c
e

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.

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Unlocking New Opportunities

We 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.

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Supporting Growth

(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.

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Technology Initiatives
Digital Innovation for
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.

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K
e
y
H
i
g
h
l
i
g
h
t
s
f
o
r
F
Y
2
0
2
3
-
2
4
C
r
e
a
t
i
n
g
V
a
l
u
e
f
o
r
o
u
r
S
t
a
k
e
h
o
l
d
e
r
s

#Includes the amount of ` 13.46 Crore spent during the year from the Unspent CSR Account of FY 2022-23

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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)

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M
e
s
s
a
g
e
f
r
o
m
t
h
e
C
h
a
i
r
m
a
n
A
B
r
i
g
h
t
e
r
F
u
t
u
r
e
i
n
B
a
n
k
i
n
g

Dear Stakeholders,

It is my privilege to present to you the Federal Bank Annual Report FY 2023-24, which marks our first integrated report.

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M
e
s
s
a
g
e
f
r
o
m
t
h
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C
h
a
i
r
m
a
n
M
e
s
s
a
g
e
f
r
o
m
t
h
e
M
D
&
C
E
O

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.

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F
i
n
a
n
c
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P
e
r
f
o
r
m
a
n
c
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C
o
n
s
i
s
t
e
n
c
y
i
n
A
c
t
i
o
n

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)

Total Deposit*

Net Advances (` in Crore)

Y-o-Y Growth

RoA (%)

Provision Coverage Ratio* (%)

Gross NPA (%)

Net NPA (%)

Capital Adequacy Ratio and Tier 1 Capital (%)

Tier 1
*PCR excluding TWO
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V
a
l
u
e
C
r
e
a
t
i
o
n
A
p
p
r
o
a
c
h
B
u
i
l
d
i
n
g
R
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l
a
t
i
o
n
s
h
i
p
s
,
D
e
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i
v
e
r
i
n
g
V
a
l
u
e
S
t
a
k
e
h
o
l
d
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r
E
n
g
a
g
e
m
e
n
t
G
r
o
w
i
n
g
t
h
r
o
u
g
h
C
o
l
l
a
b
o
r
a
t
i
o
n

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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M
a
t
e
r
i
a
l
T
o
p
i
c
s
M
a
t
e
r
i
a
l
i
t
y
A
s
s
e
s
s
m
e
n
t

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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S
t
r
a
t
e
g
i
c
P
r
i
o
r
i
t
i
e
s
S
t
a
y
i
n
g
o
n
t
h
e
C
o
u
r
s
e
t
o
B
e
c
o
m
e
t
h
e
M
o
s
t
A
d
m
i
r
e
d
B
a
n
k

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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R
i
s
k
M
a
n
a
g
e
m
e
n
t
A
c
h
i
e
v
i
n
g
L
o
n
g
-
t
e
r
m
S
t
a
b
i
l
i
t
y

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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E
S
G
S
t
r
a
t
e
g
y
U
n
l
o
c
k
i
n
g
S
u
s
t
a
i
n
a
b
l
e
S
y
n
e
r
g
y
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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

E
n
v
i
r
o
n
m
e
n
t
C
o
m
m
i
t
t
e
d
t
o
a
G
r
e
e
n
e
r
T
o
m
o
r
r
o
w

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.

Social
Forging a Strong
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.

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Governance
A Clear Demonstration
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.

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Madhava Raju

Customer

D
e
c
a
d
e
-
l
o
n
g
R
i
s
h
t
a
!

We are also part of IIHT Education Group and Fare
Labs Technology Group.

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We are a Bank whose all actions are directed keeping customer at the core."

-Federal Bank

"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

50 years of trust and partnership

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.

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These are the kind of relations we have built that enable us to achieve our best year after year."

-Federal Bank

“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!"

FATF Recognition: Collaborating for a Safer Financial System

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

A Recipe for Success

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."

-Federal Bank

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

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Download full
report
Management Discussion
and Analysis
Financial
statements
Business Responsibility &
Sustainability Report
Statutory
reports
Annual Report 2023-2024