Fed Bank Loan (IFC-38848)

Countries
  • India
Where the impacts of the investment may be experienced.
Specific Location
Gift City, Gujarat
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jun 26, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Federal Bank Limited
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 100.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 1, 2018

Disclosed by Bank Apr 11, 2017


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Project Description

The project comprises of a Senior Loan of $100m to Federal Bank Limited (“FBL”), an existing IFC client. The proposed loan will provide long term funding to the FBL’s International Financial Services Center Branch in Gift City, Gujarat.

Investment Description
  • International Finance Corporation (IFC)

Federal Bank Ltd is a private sector bank in India, which was established in 1931 as Travancore Federal Bank and re-named as FBL in 1945. The Bank has a dominant presence in the state of Kerala and has a strong franchise amongst non-resident Indians (NRIs). Federal Bank has a network of 1,252 branches and 1,665 ATM's spread across 29 states and union territories in India. FBL's shares are listed in the National Stock Exchange (NSE), Bombay Stock Exchange Ltd (BSE), London Stock Exchange plc (LSE).

The major shareholders of the Bank as on 31 December 2016, are Franklin Templeton Investment Funds (3.14%), Amansa Holdings Private Limited (4.37%), HDFC Trustee Co. Ltd (4.23%), Reliance Capital Trustee Co. Ltd (4.19%), Mr Yusuffali Musaliam Veettil Abdul Kader (3.73%), Birla Sunlife Trustee Company Private Limited (3.35%), East Bridge Capital Master Fund Limited (2.86%), LIC of India (2.39%), Franklin Templeton Mutual Fund (2.38%),Government Pension Fund Global (2.49%) and Mr Rakesh Jhunhunwala (2.34%).

Private Actors

Federal Bank Ltd is a private sector bank in India, which was established in 1931 as Travancore Federal Bank and re-named as FBL in 1945. The Bank has a dominant presence in the state of Kerala and has a strong franchise amongst non-resident Indians (NRIs). Federal Bank has a network of 1,252 branches and 1,665 ATM's spread across 29 states and union territories in India. FBL's shares are listed in the National Stock Exchange (NSE), Bombay Stock Exchange Ltd (BSE), London Stock Exchange plc (LSE).

The major shareholders of the Bank as on 31 December 2016, are Franklin Templeton Investment Funds (3.14%), Amansa Holdings Private Limited (4.37%), HDFC Trustee Co. Ltd (4.23%), Reliance CapitalTrustee Co. Ltd (4.19%), Mr Yusuffali Musaliam Veettil Abdul Kader (3.73%), Birla Sunlife Trustee CompanyPrivate Limited (3.35%), East Bridge Capital Master Fund Limited (2.86%), LIC of India (2.39%), Franklin Templeton Mutual Fund (2.38%),Government Pension Fund Global (2.49%) and Mr Rakesh Jhunhunwala(2.34%).

Contact Information

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/

CONTACTS

The Federal Bank Ltd
Mr Ravi Ranjit
AGM - Head FI & Treasury Sales
+912226566605
raviranjit@federalbank.co.in
C-8, 1st Floor, Laxmi Towers, Bandra Kurla Complex, Mumbai 400051, India
www.federalbank.co.in