MoneyWorks4Me

Federal Bank to stop funding for thermal power projects by 2030

10 Oct 2023 Evaluate

Federal Bank has set a target of completely stopping funding thermal power projects/traditional energy sector by 2030. As a first step towards its de-carbonisation initiative, the Kochi-headquartered bank will halve its exposure to the thermal power sector by 2025. The bank's green power sector exposure is Rs 5,083 crore across seven to eight projects, mostly solar and wind areas.

The bank's home loan and LAP (Loan Against Property) books are worth Rs 35,000 crore. Out of the total, around Rs 15,000 crore is LAP and the gold loan book is Rs 22,000 crore, which is more than 10 per cent of its Rs 1.96 lakh crore assets.

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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