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Federal Bank gets nod to invest Rs 148 crore in FFSL

31 Mar 2020 Evaluate

Federal Bank’s board has approved an investment of Rs 148 crore in subsidiary - Fedbank Financial Services (FFSL) through rights issue. The objective of the Rights issue is to infuse regulatory capital in the firm. This is more than 5% of the Post-issue Paid up Capital of FFSL.

Federal Bank is a major Indian commercial bank in the private sector headquartered at Aluva, Kerala having more than thousand branches and ATMs spread across different States in India. It offers personal, corporate, NRI, SME banking, online banking services to its customers.

Peers
Company Name CMP
HDFC Bank 692.60
ICICI Bank 1354.00
Axis Bank 1247.00
Kotak Mahindra Bank 438.70
Indusind Bank 865.40
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