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Mumbai, February 2023: Federal Bank was awarded the Certificate of Achievement by the International Finance Corporation (IFC), a World Bank Groupin recognition of Climate Financing Leadership in the South Asia Region (CSA) during FY 22 for having disbursed 332.9 million USD, making it the largest amount of climate loans disbursed. The award was handed over by Joon Y Park, Regional Portfolio Manager FIG, South Asia at IFC to Ashutosh Khajuria, Executive Director, Federal Bank.
This recognition highlights the Bank’s commitment to promoting sustainable development and mitigating the impacts of climate change through innovative and impactful financing solutions.
On receiving the prestigious award, Ashutosh Khajuria, Executive Director, Federal Bank said – “We believe that climate financing is a critical tool in the fight against global warming, and we will continue to lead the way in this important field. This award inspires us to redouble our efforts and pursue new, even more, impactful initiatives that make a difference in the world.”
The Bank has consciously incorporated the value of ESG and its importance in its daily operational activities for a sustainable tomorrow.
Federal Bank (NSE: FEDERALBNK) is a leading Indian private sector bank with a network of around 1,351 banking outlets and 1,896 ATMs/Recyclers spread across the country. The Bank’s total business mix (deposits + advances) stood at ₹ 3.69 Lakh Crore as on 31st December, 2022. Capital Adequacy Ratio (CRAR) of the Bank, computed as per Basel III guidelines, stood at 13.35% as on 31st December 2022. Federal Bank has its Representative Offices at Dubai and Abu Dhabi that serve as a nerve centre for Non-Resident Indian 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.
On receiving the prestigious award, Ashutosh Khajuria, Executive Director, Federal Bank said – “We believe that climate financing is a critical tool in the fight against global warming, and we will continue to lead the way in this important field. This award inspires us to redouble our efforts and pursue new, even more, impactful initiatives that make a difference in the world.”