- Federal Bank held a celebration event to mark 15 years milestone at UAE, bringing together employees, partners & customers
- Mr Shyam Srinivasan, MD & CEO, met with HH Nahyan bin Mubarak Al Nahyan, Minister of State for Tolerance, UAE
09th February 2023: Dubai, UAE – Federal Bank proudly celebrated 15 years of its success and growth in the United Arab Emirates. In connection with this, Mr. Shyam Srinivasan, Managing Director & CEO visited UAE to take part in the celebrations, meet their customers, employees and partners and reflect on the past and plan for the future. In the Bank’s effort to expand further globally and strengthen its franchise in the Middle Eastern, Mr Shyam met HH Nahyan bin Mubarak Al Nahyan, Minister of State for Tolerance, United Arab Emirates. Venkatramanan Anantha Nageswaran, Chief Economic Advisor, Government of India delivered a recorded video message to the patrons gathered.
Over the past 15 years, the Bank has achieved numerous milestones and has played a significant role in the development and growth of the UAE.
The Bank has brought alive its service proposition ‘Digital at the Fore and Human at the core’ by launching a mint fresh brand campaign that embodies the phrase in spirit. The campaign is expected to go live in India from 12th February.
Shyam Srinivasan, Managing Director & CEO, Federal Bank expressed his gratitude to all partners, customers and employees who have contributed to the company’s success over the past 15 years. “We are proud of our achievements and grateful for the support we have received from our partners, employees and customers. We will continue to strive for excellence and are committed to provide the best of services to our customers across the globe.”
The all-round strong operating performance of the Bank helped it deliver highest ever quarterly profits in the last quarter. In addition to the traditional products, the Bank has successfully ventured into credit cards, personal loans, vehicle loans, commercial vehicle loans and microfinance businesses. The Bank’s commitment to ESG standards earned an exclusive green equity investment from the International Finance Corporation (IFC) – World Bank group. The Bank is committed to continuing its legacy of excellence and to serving the UAE for many years to come.
About Federal Bank:
Federal Bank (NSE: FEDERALBNK) is a leading Indian private sector bank with a network of around 1,351 banking outlets and 1,896 ATMs/Recyclers spread across the country. The Bank’s total business mix (deposits + advances) stood at ₹ 3.69 Lakh Crore as on 31st December, 2022. Capital Adequacy Ratio (CRAR) of the Bank, computed as per Basel III guidelines, stood at 13.35% as on 31st December 2022. Federal Bank has its Representative Offices at Dubai and Abu Dhabi that serve as a nerve centre for Non-Resident Indian 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.