Federal bank India, earlier the Travancore Federal Bank Limited, was incorporated on1931 in Central Travancore. At present Federal Bank India has more than500 branches in India with over 300 in Kerala alone. Over the years it has been transformed as one of the primary private sector bank in India.
Activities:
The Federal Bank India has converted into a financial supermarket, offering its customers a varied range of products and services like:
Depository Services
Credit Cards
Insurance Products
Export Credit Insurance Products
Express Remittance Facility from Abroad - FEDFAST
Lock Box Service for NRI's
Cash Management Services
Merchant Banking Services
E-shopping Payment gateway
BSNL Bill, Online LIC Insurance, Easy Pay- On-line fee payment system
Online Railway Reservation System and Kiosks
The Federal Bank also offers some value-added services like Internet Banking, Mobile Banking and Alerts, Any Where (Branch) Banking, Interconnected Visa enabled ATM network, E-mail Alerts, Telephone Banking and a Centralized customer Call Center.
Performance:
Financial Results of the Federal Bank India for the quarter ended 31st Dec 2006 as recorded, is that the net profit being Rs. 83.84 crores and the total income earned by the bank is 1467.41 crores.
The Federal Bank entered into a MoU with Small Industries Development Bank of India to increase the flow of credit to Small and Medium Enterprise (SME) sector. It recently launched the Federal Easy Gold Scheme. The Federal Bank India is in the process of shift entire operations to a Core Banking Solution from Infosys Technologies by September 2007. the Federal Bank wins two prestigious awards for Best Use of IT in Retail Banking & Best Payments Initiative from IBA and TFCI.
