Federal Bank approves to sell 26% stake in subsidiary to True North

Date posted: Monday 14 May 2018

The Board of private sector bank Federal Bank has approved 26 per cent strategic investment by homegrown private equity player True North in its wholly-owned subsidiary FedFina subject to statutory and regulatory approvals. The investment will help FedBank Financial Services Limited augment its capital base primarily to support its growing asset business and to grow its branch network. It will help further improve the company’s financial fundamentals by strengthening its capital adequacy and diversifying its funding sources.

(Business Standard)