The Federal Bank shareholders have approved the motion of re-appointment of Shyam Srinivasan as managing director and chief executive officer of the federal bank.
- Srinivasan has been re-appointed CEO for a period of 3-years, which will come into effect from September 23, 2021 till September 22, 2024.
- Central bank approved his reappointment on 9th July 2021.
90th annual general meeting of Federal Bank
- During the meeting Shyam Srinivasan said, I had defined Simple, digital, contactless in the year 2020 to be the cornerstones of our strategic focus for FY 2020-21. This motto turned out to be corner stone in becoming the first choice for Indians.
- Shareholders of Federal Bank voted on adoption of audited financial statements of FY 2020-21, declaration of 35 per cent dividend for shareholders.
- They also presented approval of issuance of equity shares on preferential basis, and raising tier-I capital of bank through issuance of securities.
The major Indian commercial bank in Private Sector. It is headquartered in Aluva, Kochi. It has more than 1,200 branches across different states in India. It has also set up Representative Offices at Abu Dhabi, Kuwait, Qatar, Oman and Dubai. It has a customer base of over 10 million, comprising of 1.5 million NRI customers. This bank handles more than 15 per cent of India’s total inward remittances in the year 2018. This bank is also listed in BSE, NSE and London Stock Exchange. It has a branch in first International Financial Services Centre (IFSC) of India at GIFT City.
Federal Bank re-appointed CEO Shyam Srinivasan Federal Bank re-appointed CEO Shyam Srinivasan