NewsVoir | 30 Jun, 2015
The Annual General Meeting of the shareholders of Federal Bank held at Aluva on 29th June 2015 has approved the proposal of the Board of Directors to issue Bonus shares in the ratio of 1:1. The meeting has fixed the Record Date as July 09, 2015 for the purpose of ascertaining the entitlement of the members for the issue of Bonus shares. Shareholders of the Bank will be eligible for one equity share for every equity share held by them as on the record date.
About Federal Bank:
Federal Bank is a leading Private Sector Bank with a branch network of 1,247 branches and 1,497 ATMs spread across the country. The Bankâs total business mix (deposits + advances) stands at Rs 1.22 Lakh Crore as at March 31, 2015 and it has earned a net profit of Rs 1005.75 Crore. Bankâs Capital to Risk weighted Ratio (CRAR) stood at 15.46% at the end of March 31, 2015. Federal Bank has its Representative Office at Abu Dhabi that serves as a nerve centre for NRI customers in the UAE. Federal Bank is transforming itself, keeping its principles intact, into an organization that offers services beyond par. It has a well defined vision for the future as a guidepost to its progress.