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09-Nov2017

Federal Bank gains on receiving nod to open representative offices at Kuwait, Singapore

Federal Bank is currently trading at Rs. 113.30, up by 0.35 points or 0.31% from its previous closing of Rs. 112.95 on the BSE.

The scrip opened at Rs. 113.00 and has touched a high and low of Rs. 114.90 and Rs. 113.00 respectively. So far 1,00,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 127.75 on 17-Oct-2017 and a 52 week low of Rs. 61.85 on 26-Dec-2016.

Last one week high and low of the scrip stood at Rs. 119.35 and Rs. 112.30 respectively. The current market cap of the company is Rs. 22,172.00 crore.

The Institutions and Non-Institutions held 71.61% and 28.39% respectively in the bank.

Federal Bank has received an approval from Reserve Bank of India (RBI) for opening representative offices at Kuwait and Singapore. The Bank is one of the few banks to have been granted approval for opening offices in these countries. With the opening of these offices, the Bank will be able to widen its services to NRI diaspora and also enhance the international visibility of the Bank.

Federal Bank is a major Indian commercial bank in the private sector headquartered at Aluva, Kerala having more than thousand branches and ATMs spread across different States in India. It offers personal, corporate, NRI, SME banking, online banking services to its customers.



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