Kerala: Prominent Banker Engages with Pinarayi Vijayan
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Synopsis
K.V.S. Manian, CEO of Federal Bank, met Chief Minister Pinarayi Vijayan to discuss collaborative growth. The bank's initiatives focus on local empowerment and financial inclusion, showcasing its commitment to Kerala's development.
Key Takeaways
- K.V.S. Manian is the new CEO of Federal Bank.
- The meeting focused on collaboration for Kerala’s growth.
- Federal Bank emphasizes local business support and empowerment.
- They run skill centers for vocational training.
- The bank has contributed to educational scholarships and health initiatives.
Kochi, Feb 13 (NationPress) K.V.S. Manian, the CEO and MD of Federal Bank, which ranks as the sixth-largest private sector bank in India, visited Kerala Chief Minister Pinarayi Vijayan on Thursday to explore opportunities for collaboration and growth.
With over three decades of leadership experience in banking, Manian has recently assumed the role of CEO at Federal Bank.
“Our conversation was both constructive and forward-thinking, centered on unlocking new paths for Kerala’s advancement. At Federal Bank, our journey is deeply connected with Kerala’s own progress. Our accomplishments have always been linked, and we are devoted to being more than a banking partner; we aspire to be a catalyst for empowerment and development, ensuring that as Kerala flourishes, we flourish alongside it,” stated Manian.
He highlighted that Federal Bank has been actively involved in various developmental initiatives within the state, emphasizing support for local businesses, empowerment of entrepreneurs, and promotion of financial inclusion.
Additionally, he mentioned that the bank utilizes its CSR resources to conduct developmental projects throughout Kerala, including operating skill centers that provide vocational training and assist in job creation, with nearly 500 trainees graduating last year alone.
The bank also provides scholarships to students from underprivileged families and has supported 600 cancer patients in Kerala through its Sanjeevani initiative.
The International Finance Corporation, the investment division of the World Bank, is a significant shareholder in Federal Bank.
Afterward, he met with State Minister of Industries P. Rajeeve.
Federal Bank, which originated in Kerala, now enjoys a national footprint with 1550 branches across the country, of which 600 are located in the state, representing 40 percent of its entire branch network.
As of December 31, 2024, the bank's total business has reached Rs 4,96,745 crore, with a Capital Adequacy Ratio calculated according to Basel III standards, standing at 15.16 percent.
