The eighty seventh Annual General Meeting of the shareholders of Federal Bank was held in Aluva today. The meeting was presided over by the Chairman Nilesh Shivji Vikamsey and attended by other directors and shareholders.
Approval of shareholders was sought for declaration of dividend of 50% to the shareholders and various key resolutions like appointment and re-appointment of some of Independent Directors of the Bank, issue of debt instruments including Tier II bonds, Long Term Bonds, Masala Bonds, Green bonds, nonconvertible debentures or such other debt securities up to ? 8,000 Crores. The Chairman asserted in his speech that the Bank will be stepping into even happier times in the FY 2018-19 as the Bank embarks upon a new transformation phase, with the Indian economy on the path to recovery. Shyam Srinivasan, MD & CEO commented on the strong fundamentals and soaring ambitions of the Bank and expressed his conviction that the current environment presents the Bank significant opportunities to expand and grow both swiftly yet responsibly.
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