Federal Bank

The Federal Bank Limited is a major Indian commercial bank in the private sector, headquartered at Aluva, Kochi, Kerala. As on 19 October 2015, Federal Bank has 1251 branches spread across 24 states and 1526 ATMs across the country. Its balance-sheet stood at Rs 1.03 trillion as of end March 2014 and its net profit stood at Rs 1000 crore for the full fiscal year.

History

In 1931, Travancore Federal Bank began operations at Pattamukkil Varattisseril house near Nedumpuram, near Thiruvalla, Kerala. The home functioned as the bank office for nearly 15 years. The 14 founders included Pattamukkil Varattisseril Oommen Varghese, his brothers Oommen Chacko, Oommen Kurian, and Oommen George, and Kavumbhagam Mundapallil Lukose. Oommen Varghese was the chairman and Oommen Chacko was the manager. After the bank had functioned for nearly 10 years, the bank's day-to-day operations had to be stopped due to Oomen Chacko's ill-health.

A lawyer from Perumbavoor named K.P.Hormis, and his acquaintances, bought the bank and took over the management. In 1945 they moved the bank's registered office to Aluva and Hormis became the Managing Director. In 1947, the bank's name was shortened from Travancore Federal Bank to Federal Bank.