Kochi: Reserve Bank of India (RBI) has appointed Grace Elizabeth Koshie as Part Time Chairperson of Federal Bank with effect from November 7, 2019

The Bank obtained approval of RBI in this regard. She has been on the board of Federal Bank since 2013. Koshie carries with her rich and varied experience of over 36 years of central banking in the Reserve Bank of India. She had earlier served as RBI nominee Director on the Boards of Dena Bank and Corporation Bank

Federal Bank is a leading private sector bank with a branch network of 1,251 branches and 1,934 ATMs/Recyclers spread across the country. The Bank’s total business mix (deposits + advances) stood at Rs 2.46 Lakh Crore as of March 31, 2019 and it has earned a net profit of Rs. 1,244 Crore for FY19. The Capital Adequacy Ratio (CRAR) of the Bank, computed as per Basel III guidelines, stood at 14.14%. Federal Bank has Representative Offices at Dubai and Abu Dhabi which serve as support Centres for the substantial population of NRI customers the Bank has in the UAE. The Bank also has an IFSC Banking Unit (IBU) in Gujarat International Finance Tec-City (GIFT City). Federal Bank, while always staying true to its core values and principles determinedly, is transforming itself into an organization providing services of the topmost quality. It has a well-defined vision for the future, which guides its progress.