Shri. Abhaya Prasad Hota Joins Federal Bank’s Director Board

25th January 2018: Shri. Abhaya Prasad Hota has joined the Board of Federal Bank as its independent director. He has been the MD &CEO of National Payments Corporation of India from 2009 to 2017. He also has served as RBI Nominee Director in the Boards of Vijaya Bank and Andhra Bank in the past. Shri. Abhaya Prasad Hota is also Director on the Boards of IDBI Intech Ltd, Motilal Oswal Asset Management Company and Transaction Analyst Pvt Ltd.

About Federal Bank:

Federal Bank is a leading Private Sector Bank with a branch network of 1,252 branches and 1,680 ATMs spread across the country. The Bank’s total business mix (deposits + advances) stands at Rs 1.72 Lakh Crore as at June 30, 2017 and it has earned a net profit of Rs 210.15 Crore for Q1 FY18.  Bank’s Capital to Risk weighted Ratio (CRAR) stood at 15.28% at the end of June 30, 2017.  Federal Bank has its Representative Office at Dubai and Abu Dhabi that serves as a nerve centre for NRI customers in the UAE. The Bank also has an IFSC Banking Unit (IBU) in Gujarat International Finance Tec-City (GIFT City).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. During FY 17 the bank handled around 15 % of the total personal inward remittance to India.