Federal Bank is planning to raise funds by way of issue of Unsecured Basel III Tier-II Subordinate Bonds in the nature of Debentures, amounting up to Rs 700 crore on a private placement basis. A meeting of the Board of Directors of the company is scheduled to be held on January 12, 2022, to consider and approve the same.
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.