Federal Bank’s IFSC Banking Unit at Gift City Crosses $200 Million in Total Business

Destination-Kerala-Federal-Bank-(8)

Kochi: Federal Bank has crossed $200 million in total business at its IFSC Banking Unit (IBU) at GIFT City in Gujarat. Federal Bank commissioned its IBU in India’s first International Financial Service Centre (IFSC) at GIFT City in November 2015. The unit offers various financial services such as funded and non-funded facilities to overseas operations of Indian corporates, extending loans to overseas business ventures of Non-Resident Indians and Trade Finance solutions to Indian clients.

As part of its effort to fund diverse business ventures, the Bank raised foreign currency funds by way of bi-lateral loans/borrowings from banks across the world. Federal Bank –IBU has executed transactions in various segments such as Manufacturing, Metals, Media & Entertainment, Healthcare, Electricals etc.

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