Federal Bank Partners with IIFL to Offer Enhanced Broking Services

Leading private sector bank, Federal Bank announced a partnership with India Infoline Ltd, a part of IIFL Group. Through this partnership, Federal Bank customers in India and abroad will be offered IIFL’s enhanced broking services.

IIFL, one of the country’s largest diversified financial services companies offers execution platform with cutting edge technology for the entire range of financial services.

Mr Ashutosh Khajuria, President, Treasury and Head, Network II, Federal Bank said, “India Infoline has one of the finest broking services across the industry and we are happy that Federal Bank customers will benefit from the relationship. We aim to connect our customers in India and abroad to one of the most trustworthy brands in broking.”

Mr. R. Venkataraman, Managing Director, IIFL Group, said, “Federal Bank’s reach across India and overseas will benefit IIFL immensely. We want to remain their trusted partner to millions of Federal Bank customers and assist them in their investments.”

About Federal Bank:

Federal Bank is a leading Private Sector Bank with a branch network of 1212 branches and 1,427 ATMs spread across the country. The Bank’s total business mix (deposits + advances) stands at  Rs 1.03  Lakh  Crore as at March 31, 2014and it has earned a net profit of Rs 838.89 Crore.  Its Capital to Risk weighted Ratio (CRAR) stood at 15.14% at the end of March 31.  

Federal Bank has its Representative Office at Abu Dhabi that serves as a nerve centre for NRI customers in the UAE. 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.

About IIFL:

IIFL (India Infoline group), comprising the holding company, IIFL Holdings Ltd (NSE: IIFL, BSE: IIFL) and its subsidiaries, is one of the leading players in the Indian financial services space. IIFL offers advice and execution platform for the entire range of financial services covering products ranging from Equities and derivatives, Commodities, Wealth management, Asset management, Insurance, Fixed deposits, Loans, Investment Banking, GoI bonds and other small savings instruments. It owns and manages the website, www.indiainfoline.com, which is one of India’s leading online destinations for personal finance, stock markets, economy and business.

IIFL won ‘Best Customer Service in Financial Markets’ award organized by FranchiseIndia. Mr Nirmal Jain, our Chairman has also received the ‘Entrepreneur of the Year’ award at the 10th Franchise India Awards, 2012. IIFL has received ‘Best Equity Broking House with Global Presence’ at the D&B Equity Broking Awards 2012 as well as for 2011. IIFL Wealth was awarded ‘Best Wealth ManagementHouse – India’ at The Asset Triple A Investment Awards, from 2011 to 2013. IIFL has also been awarded as the ‘Best Broker in India, 2011’, by FinanceAsia and the 'Best Equity Broker of the Year, 2011' by Bloomberg UTV. A forerunner in the field of equity research, IIFL’s research is acknowledged by none other than Forbes as ‘Best of the Web’ and ‘…a must read for investors in Asia’. IIFL research is available not just over the Internet but also on international wire services like Bloomberg, Thomson First Call and Internet Securities where it is amongst one of the most read Indian brokers. A network of over 2,700 business locations spread across India facilitates the smooth acquisition and servicing of a large customer base. All our offices are connected with the corporate office in Mumbai with cutting edge networking technology. The group caters to a customer base of over a million customers, over a variety of mediums viz. online, over the phone and at our branches.

IIFL/ India Infoline refer to IIFL Holdings Ltd and its group companies.