FEDERALBNK

** Federal Bank FED.NS shares up 2.3% to 211 rupees, a nearly 6-month high

** Stock top pct gainer on Nifty bank index .NSEBANK, which is down 0.8%

** Over 2.5 million shares traded in three block deals priced between 207.66 and 212.01 rupees per share - as per data compiled by LSEG

** The deals valued the stock at a premium of between 0.7% and 2.8% from the last close price of 206.25 rupees

** Overall 17 million shares traded, 1.8x the 30-day avg

** Stock up 5.5% YTD

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

April 30 (Reuters) - Federal Bank Ltd FED.NS:

• DIVIDEND OF 1.2 RUPEES PER SHARE

• MARCH-QUARTER NET PROFIT 10.30 BILLION RUPEES

• MARCH-QUARTER GROSS NPA 1.84%

• MARCH-QUARTER INTEREST EARNED 66.48 BILLION RUPEES

• MARCH-QUARTER PROVISIONS AND CONTINGENCIES 1.38 BILLION RUPEES

Source text: [ID:]

Further company coverage: FED.NS

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** Shares of Federal Bank FED.NS rise 1.45% to 196.95 rupees apiece

** Rise after CLSA initiates coverage with "outperform" rating on the private sector bank, citing inexpensive valuations and steady deposits

** CLSA sets a target price of 230 rupees on FED, implying an 18% upside in the next 12 months

** FED's strong non-resident deposit base, which contributes to 30% of total deposits, and its potential to scale up current account deposits should help improve the lender's net interest margins, says CLSA

** Average rating of 29 analysts tracking FED is "buy" - data compiled by LSEG

** Shares down 3% in 2025 so far, underperforming bank index .NSEBANK which is up 1.4%

(Reporting by Bharath Rajeswaran in Bengaluru)

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March 26 (Reuters) - Federal Bank Ltd FED.NS:

• FEDERAL BANK LTD - RECEIVES RBI APPROVAL TO ACQUIRE 4% STAKE IN AFLIC

Source text: ID:nBSEb18ZQD

Further company coverage: FED.NS

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March 25 (Reuters) - Federal Bank Ltd FED.NS:

• FEDERAL BANK LTD - TO ACQUIRE 4% STAKE IN AGEAS FEDERAL LIFE INSURANCE

• FEDERAL BANK LTD - ACQUISITION COST 974.4 MILLION RUPEES FOR 32 MILLION SHARES

Source text: ID:nBSE2fZh3Q

Further company coverage: FED.NS

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** Shares of Federal Bank FED.NS climb as much as 2% to 183.4 rupees, last up 1.6%

** Co, on Friday, laid out plans including increased focus on current account, savings account and deposits to strengthen balance sheet, expanding products portfolio

** Co will add 400-450 branches by FY28

** Growth plans to likely support better NIM growth, positions lender as key player among mid-sized private banks to deliver sustained profitability and growth - Motilal Oswal

** Centrum Broking analyst says pivot in long term strategy is the right move but will weigh on near term growth and returns

** Avg rating of 30 analysts is "buy" and median PT is 220 rupees, ~20% higher than current price - data compiled by LSEG

** FED gained 28% in 2024

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

** Shares of Federal Bank FED.NS fall 5% to 181.51 rupees

** Bank's Q3 net profit fell 5% y/y to 9.55 bln rupees ($110.4 mln)

** Interest earned rose 18.8% y/y, gross NPA stood at 1.95% vs 2.29% year ago

** Trading vols at 18.4 mln shares, 2.1x the 30-day average

** FED gained 28.1% in 2024 vs 12.3% gains in 2023

($1 = 86.5200 Indian rupees)

(Reporting by Vijay Malkar)

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Jan 27 (Reuters) - Federal Bank Ltd FED.NS:

• Q3 NIM AT 3.11%

Source text: ID:nBSE7V7zwL

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Jan 14 (Reuters) - Federal Bank Ltd FED.NS:

• RECEIVES PENALTY ORDER OF 104.7 MILLION RUPEES

Source text: ID:nBSEc4Rh3M

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MUMBAI, Nov 8 (Reuters) - India's Federal Bank FED.NS has accepted bids worth 15 billion rupees ($177.78 million) for infrastructure bonds maturing in 10 years, three merchant bankers said on Friday.

The private bank will pay an annual coupon of 7.76% and had invited bids from bankers and investors earlier in the day, they said.

The bank did not reply to a Reuters email seeking comment.

Here is the list of deals reported so far on Nov. 8

*Size includes base plus greenshoe for some issues

($1 = 84.3725 Indian rupees)

(Reporting by Dharamraj Dhutia
Editing by Eileen Soreng)

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MUMBAI, Nov 6 (Reuters) - India's Federal Bank FED.NS plans to raise 15 billion rupees ($178.2 million), including a greenshoe option of 7 billion rupees, through the sale of infrastructure bonds maturing in 10 years, three merchant bankers said on Wednesday.

The private bank has invited coupon and commitment bids from bankers and investors on Friday, they said.

The bank did not reply to a Reuters email seeking comment.

Here is the list of deals reported so far on Nov. 6

*Size includes base plus greenshoe for some issues

($1 = 84.1780 Indian rupees)

(Reporting by Dharamraj Dhutia
Editing by Eileen Soreng)

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** Shares of Federal Bank FED.NS jump about 7% to 197.8 rupees, eyes best pct gain since June 5

** Stock top gainer on Nifty private bank index .NIFPVTBNK, which is down 0.9%

** Lender posts net profit of 10.57 bln rupees ($126 mln), beating estimate of 9.94 bln rupees, per LSEG data

** Emkay Research cites strong growth in retail and mall and medium-sized enterprises loans

** Avg rating of 30 analysts is "buy" rating; median PT is 230 rupees - LSEG data

** Stock up 26% YTD vs a 1.4% gain in private bank index

($1 = 84.0740 Indian rupees)

(Reporting by Ashna Teresa Britto in Bengaluru)

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Oct 28 (Reuters) - Federal Bank Ltd FED.NS:

• Q2 NET PROFIT 10.57 BILLION RUPEES; IBES PROFIT EST. 9.94 BILLION RUPEES

• Q2 GROSS NPA 2.09%

• Q2 INTEREST EARNED 65.77 BILLION RUPEES

• Q2 NET NPA 0.57%

• Q2 PROVISIONS AND CONTINGENCIES 1.58 BILLION RUPEES

• APPROVED RAISING FUNDS OF UP TO 15 BLN RUPEES VIA NON- CONVERTIBLE DEBENTURES

Source text: [ID:]

Further company coverage: FED.NS

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** Shares of Federal Bank FED.NS fall 3.3%

** Stock set for its worst intraday percentage drop in a month

** Lender's overall deposit growth moderated to 1% sequentially in the September quarter, from 5% in the last quarter

** Loan-to-deposit ratio (LDR) inched up to 86.9% from 84.3% in the previous quarter

** Morgan Stanley flags higher LDR and slower growth in retail deposits as key concerns

** Elara Capital expects the lender's net interest income (NII) to be hurt in the September quarter due to 4-5 basis point drop in net interest margins (NIM)

** The average recommendation of 30 analysts tracking FED is "buy"; median price target is at 230 rupees - LSEG data

** FED shares have gained 20% in 2024 so far, compared to 6% rise in bank index .NSEBANK of which it is a constituent

(Reporting by Bharath Rajeswaran in Bengaluru)

(([email protected]; +91 9769003463;))

Oct 4 (Reuters) - Federal Bank Ltd FED.NS:

• GROSS ADVANCES GREW BY 19% Y/Y AS OF SEPT 30

• TOTAL DEPOSITS UP 16% Y/Y AS OF SEPT 30

Source text for Eikon: ID:nBSE1VlC5B

Further company coverage: FED.NS

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** Shares of Federal Bank FED.NS fall 2.5% to 190 rupees

** Morgan Stanley downgrades bank to "underweight" from "equal weight" citing lower credit costs and changes in rate cycle

** Net interest margins may stay low due to low-yield loans and stable retail deposits- MS

** Flags, potential impact on earnings, growth from new liquidity coverage ratio (LCR) and expected credit loss (ECL) norms implemented by central bank

** Adds, NIM would remain a challenge amid tight deposit growth and high competition for the sector as a whole

** Avg rating of analysts covering the stock at "buy"; median PT is at 230 rupees - LSEG data

** Stock up ~22% YTD vs a ~3% rise in Nifty private bank index .NIFPVTBNK

(Reporting by Yagnoseni Das in Bengaluru)

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Aug 16 (Reuters) - Federal Bank Ltd FED.NS:

• GOT GST ORDER LEVYING A PENALTY OF 1.4 MILLION RUPEES

Further company coverage: FED.NS

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July 24 (Reuters) - Federal Bank Ltd FED.NS:

• Q1 NET PROFIT 10.1 BILLION RUPEES

• Q1 GROSS NPA 2.11%

• Q1 INTEREST EARNED 63.31 BILLION RUPEES

• Q1 NET NPA 0.6%

• Q1 PROVISIONS AND CONTINGENCIES 1.44 BILLION RUPEES

Further company coverage: FED.NS

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BENGALURU, July 23 (Reuters) - Shares of India's Federal Bank FED.NS rose as much as 5.5% to a record high on Tuesday, a day after the central bank approved the appointment of veteran banker KVS Manian as the lender's new CEO, quashing concerns around management succession.

Manian resigned from Kotak Mahindra Bank KTKM.NS in April, after nearly three decades at the bank, saying he had aspirations elsewhere in the industry, and local media has said he was being considered for the CEO role at Federal Bank.

The Reserve Bank of India (RBI) approved Manian's appointment as Federal Bank's managing director and CEO for three years, the lender said on Monday.

"We view this development as positive as it also brings an end to the uncertainty around management succession," Nomura analysts said in a note.

"Manian has a strong banking pedigree and diverse experience across financial services and his leadership can potentially aid Federal Bank's growth and profitability outlook over the medium term."

At Kotak, Manian oversaw corporate banking, commercial banking, private banking and the asset reconstruction business among others.

In terms of experience, Manian's background "ticks most of the key boxes that investors would look for in a bank CEO," Yes Securities said in a note.

Federal Bank had begun a search for a new CEO in January after the Reserve Bank of India rejected extending CEO Shyam Srinivasan's three-year term, which ends in September.

The average rating of the 30 analysts covering Federal Bank is the equivalent of "buy," as per LSEG data.

The company's stock has jumped 27% so far this year, the most among the 10 members in Nifty private bank index .NIFPVTBNK, which is up about 5%.

(Reporting by Sethuraman NR in Bengaluru; Editing by Savio D'Souza)

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July 22 (Reuters) - Federal Bank Ltd FED.NS:

• RBI APPROVED APPOINTMENT OF KRISHNAN VENKAT SUBRAMANIAN AS MD, & CEO OF BANK

Source text for Eikon: ID:nBSE1ZsXkp

Further company coverage: FED.NS

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** Shares of Federal Bank FED.NS up 2.4% at record high of 197.15 rupees; set for third straight session of gain

** Stock top pct gainer on Nifty Bank .NSEBANK and private bank index .NIFPVTBNK, which are up 0.6% each

** FED set for best week in five months

** UBS expects return on assets to rise 20 bps from FY22-24 to 1.4% by FY27 on improving NIM and sustained loan growth

** Brokerage upgrades stock to "buy" from "neutral" and sets Street-high PT of 250 rupees, per LSEG data

** UBS also expects greater focus on margin growth by new CEO, likely to be appointed in two months

** Mean rating of 30 analysts is "buy"; median PT is 195 rupees - LSEG data

** Stock has climbed 26% YTD; Nifty bank index and private bank index up ~9% and ~6% respectively

(Reporting by Kashish Tandon in Bengaluru)

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July 3 (Reuters) - Federal Bank Ltd FED.NS:

• FEDERAL BANK LTD- GROSS ADVANCES UP 20.1% Y/Y AS OF JUNE END

• FEDERAL BANK LTD - JUNE-QUARTER TOTAL DEPOSITS UP 19.6% Y/Y

Source text for Eikon: ID:nBSEcfHB7f

Further company coverage: FED.NS

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** Shares of Federal Bank FED.NS up 3.8% to a record high of 173.94 rupees

** Reuters could not immediately ascertain a reason for the stock move

** Lender is the top percentage gainer on the Nifty private bank index .NIFPVTBNK, which is up 0.3%

** Separately, co likely submitted three names to the Reserve Bank of India for Managing Director and Chief Executive Director posts, CNBC-TV18 reported citing sources

** The names include KVS Manian, deputy MD at Kotak Mahindra Bank KTKM.NS, and two executive directors currently working with Federal Bank

** The company did not immediately respond to a Reuters' request for comment

** Analysts' avg rating on stock is "Buy", median PT is 195 rupees, per LSEG data

** Including session's gains, stock is up ~12% YTD, while NIFPVTBNK is down 0.5%

(Reporting by Manvi Pant in Bengaluru)

(([email protected]; +918447554364;))

May 2 (Reuters) - Federal Bank Ltd FED.NS:

• FEDERAL BANK CEO: MARKET SHARE GAINS ON ASSETS AND DEPOSITS ARE SUSTAINABLE AND GROWABLE GOING FORWARD

• FEDERAL BANK CEO: THERE IS A BOARD-ESTABLISHED PANEL FOR CEO'S POSITION; BOTH INTERNAL, EXTERNAL CANDIDATES WILL BE CONSIDERED

• FEDERAL BANK CEO: SEARCH PANEL AT AN ADVANCED STAGE TO SUBMIT NAMES FOR MD, CEO TO RBI

• FEDERAL BANK CEO: BOARD HAS SET UP AN EFFICIENT SEARCH PANEL; PANEL HAS A LONG LIST OF PEOPLE TO CHOOSE FROM FOR CEO ROLE

• FEDERAL BANK CEO: WILL NOT SHY AWAY FROM SPENDING ON IT-RELATED EXPENSES

• FEDERAL BANK CEO: ASPIRE TO SPEND 8% OF OVERALL EXPENSES OVER THE NEXT FEW YRS ON IT

• FEDERAL BANK CEO: EXPECT 18% CREDIT GROWTH IN FY25, DEPOSIT GROWTH WILL BE BETWEEN 16-18%

• FEDERAL BANK CEO: IN PROCESS OF GETTING NECESSARY CLEARANCES FROM RBI TO RESTART ISSUING CO-BRANDED CREDIT CARDS

• FEDERAL BANK CEO: EXPECT SEARCH PANEL TO SEND LIST OF POTENTIAL MD, CEO CANDIDATES TO RBI IN FEW WEEKS

Source text for Eikon: [ID:]

Further company coverage: FED.NS

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April 18 (Reuters) - Federal Bank Ltd FED.NS:

• RECEIVED APPROVAL FROM RESERVE BANK OF INDIA TO ESTABLISH REPRESENTATIVE OFFICE IN KINGDOM OF SAUDI ARABIA

Source text for Eikon: ID:nBSE4yz8Tr

Further company coverage: FED.NS

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April 3 (Reuters) - Federal Bank Ltd FED.NS:

• FEDERAL BANK LTD - GROSS ADVANCES GREW BY 20% Y/Y AS OF MARCH 31

• FEDERAL BANK LTD - TOTAL DEPOSITS UP 18.4% Y/Y, AS OF MARCH 31

Source text for Eikon: ID:nBSE1yG66C

Further company coverage: FED.NS

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** Shares of Federal Bank FED.NS and South Indian Bank SIBK.NS down 4.3% and 1.9%, respectively

** India's central bank asked SIBK and FED to stop adding new customers to their co-branded credit cards, the lenders said in separate stock exchange filings

** SIBK was down as much as 3.8% before paring some losses

** FED and SIBK on track to drop in fifth and sixth straight sessions, respectively, if trend holds

** Nomura says restrictions unlikely to have near-term NIM impact on FED but is a near-term dampener to brokerage's outlook that scale-up of unsecured retail is key driver for incremental loan growth and NIM expansion over FY24-26

** Brokerage maintains "Buy" rating on FED and PT of 190 rupees; it does not have a rating on SIBK

** FED and SIBK both have avg analyst rating of "Buy" - LSEG data

(Reporting by Varun Vyas in Bengaluru)

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MUMBAI, March 13 (Reuters) - India's central bank has asked South Indian Bank SIBK.NS and Federal Bank FED.NS to stop adding new customers to their co-branded credit cards, the lenders said in separate stock exchange filings on Wednesday.

South Indian Bank said it has been asked to stop on-boarding any fresh customers in its co-branded credit cards until it complies with regulatory guidelines. It will continue servicing existing customers, it said.

Federal Bank said it has been asked to halt the issuance of new co-branded credit cards by the Reserve Bank of India (RBI).

"The Bank is in the process of rectifying the areas that are deficient and will seek regulatory clearance prior to resumption of new issuance," Federal Bank said.

The lenders did not disclose the reasons cited by the central bank but said the directive follows a recent change in rules for credit and debit cards.

As part of those rules, the RBI reiterated that co-branding partners of credit cards cannot access customer data or be involved in any of the processes after the initial issuance of the cards.

The banks, in their filings to the exchanges, did not specify whether the restrictions placed on them were due to a breach of this provision or another condition.

(Reporting by Ira Dugal; Editing by Sonia Cheema)

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** Shares of Federal Bank Ltd FED.NS down 6.3% at 152.75 rupees, their biggest fall since May 2023

** Kotak Mahindra Bank KTKM.NS up 1%, top gainer on Nifty financials .NIFTYFIN, which is up 0.1%

** Kotak names veteran KVS Manian as joint MD

** Federal Bank had short-listed Manian as CEO candidate, per media reports last Thurs, triggering a 10% stock jump in two sessions

** Last month, RBI asked Federal Bank for two CEO candidates after co sought 1-yr extension to CEO Shyam Srinivasan's term

** Federal Bank stock turns YTD negative, down 1.9%, while Kotak is down 8% and Nifty financials are off 4%

(Reporting by Nandan Mandayam in Bengaluru)

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BENGALURU, Feb 19 (Reuters) - India's Kotak Mahindra Bank KTKM.NS on Monday named KVS Manian as joint managing director and Shanti Ekambaram as deputy managing director, effective March 1.

Both Manian and Ekambaram have been with Kotak for more than two decades and were last serving as whole-time directors.

Manian will oversee wholesale bank, commercial bank, private banking, asset reconstruction division and wholesale credit, while Ekambaram will drive treasury and global markets businesses in addition to her existing portfolio, the bank said in a statement.

The appointments come as multiple local media reports had said Manian was short-listed as a CEO candidate for Federal Bank FED.NS.

In September, billionaire Uday Kotak, who founded Kotak Mahindra Bank, resigned as managing director and CEO four months before his term was set to end.

Manian and Ekambaram were among the top runners to replace Uday Kotak but the role went to veteran banker Ashok Vaswani.

Meanwhile, the lender also named Devang Gheewalla as president and group chief financial officer, effective April 1.

Kotak's shares closed down marginally at 1,731.40 rupees on Monday. They had risen 4.4% in 2023, underperforming a 12.4% gain in the Nifty bank index .NSEBANK.

(Reporting by Sethuraman NR in Bengaluru; Editing by Savio D'Souza)

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