Federal Bank has received approval from Reserve Bank of India (RBI) for acquisition of additional 4% stake in Ageas Federal Life Insurance Company. The acquisition upon materialization will increase the equity stake of The Federal Bank in Ageas Federal Life Insurance Company from 26% to 30%. The acquisition is expected to be completed on or before October 31, 2025.
Recently, the bank’s board, at its meeting held on March 25, 2025, had approved the execution of a binding Memorandum of Understanding with Ageas Insurance International NV (Ageas) and Ageas Federal Life Insurance Company (AFLIC), for acquisition of 4% equity stake by the Bank in AFLIC, from Ageas.
Federal Bank is a major Indian commercial bank in the private sector headquartered at Aluva, Kerala having many branches and ATMs spread across different States in India.
