Mumbai: Shri. Dilip Sadarangani has been appointed as Part Time Chairman of Federal Bank. The Bank obtained approval of Reserve Bank of India in this regard. He has been in the board of Federal Bank since 2013. Shri. Dilip Sadarangani is a renowned banker with experience in various facets of banking, particularly technology, in different countries. He has played key roles in setting up of IT infrastructure in different banks in India, Australia and Kuwait. He was also a Core member of the team which automated the first 50 branches of State Bank of India. He has made contributions in business-technology strategies for banks including ANZ Grindlays Bank, Standard Chartered Bank (SCB) etc. He holds a Post Graduate Diploma in Computer Management from Jamnalal Bajaj Institute of Management, University of Bombay. The appointment of this veteran banker who has been instrumental in ushering in of technology in multiple banks, as chairman of the board of Federal Bank comes at a time when Federal Bank makes confident strides in gaining market share in India with its mantra of Digital at the Fore and Human at the Core.
Vice President (Marketing and Investor Relations)
About Federal Bank:
Federal Bank is a leading Private Sector Bank with a branch network of 1,251 branches and 1,669 ATMs spread across the country. The Bank’s total business mix (deposits + advances) stood at Rs 2.03 Lakh Crore as at March 31, 2018 and it has earned a net profit of ₹ 878.85 Crore for FY18. The Capital Adequacy Ratio (CRAR) of the Bank, computed as per Basel III guidelines, stood at 14.70%. Federal Bank has its Representative Offices at Dubai and Abu Dhabi that serve as a nerve centre for NRI customers in the UAE. The Bank also has an IFSC Banking Unit (IBU) in Gujarat International Finance Tec-City (GIFT City).Federal Bank is transforming itself, keeping its principles intact, into an organization that offers services beyond par. It has a well defined vision for the future as a guidepost to its progress.