Kochi, Feb 13 (IANS): K.V.S. Manian, CEO and MD of Federal Bank, the country’s sixth biggest private sector bank on Thursday called on Kerala Chief Minister Pinarayi Vijayan and discussed avenues for collaboration and growth.
Manian, who has more than three decades of leadership experience in the banking sector, has recently taken over the top post of the Federal Bank.
Our discussion was constructive and forward-looking which focused on unlocking new avenues for Kerala’s progress. At Federal Bank, we see our journey as inseparable from Kerala’s own. Our success has always been intertwined, and we remain committed to being more than just a perfect banking partner as we aim to be a catalyst for empowerment and development, ensuring that as Kerala rises, we rise with it,” said Manian.
He also pointed out that the Federal Bank has been actively participating in various development initiatives within the state, focusing on supporting local businesses, empowering entrepreneurs, and promoting financial inclusion.
He said that the institution has also been using its CSR resources for conducting developmental activities across Kerala, including running skilling centres that provide vocational training and help in employment generation, with close to 500 trainees passing out last year alone.
The bank has also been offering scholarships to students from financially backward families and has supported 600 cancer patients in Kerala through the Sanjeevani programme.
International Finance Corporation, the investment arm of the World Bank, is a key shareholder in Federal Bank.
Later, he also met State Minister of Industries P. Rajeeve.
Federal Bank, which has its origins in Kerala now boasts a nationwide presence and has 1550 branches in the country of which 600 branches are in the state, accounting for 40 per cent of its total branch network.
As of 31st December 2024, the total business of the bank has touched Rs 4,96,745 crore with a Capital Adequacy Ratio computed as per Basel III guidelines, standing at 15.16 per cent.