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Business EconomyPosted at: Feb 22 2018 8:28PM


Federal Bank to acquire stake in Equirus Capital

Kolkata, Feb 22 (UNI) The Board of Directors of Federal Bank has approved acquiring
a strategic minority stake of 26 per cent in Equirus Capital Pvt. Ltd. (ECPL) subject to
statutory and regulatory approvals and satisfactory completion of financial and legal
due diligence.
The Investment rationale has been driven by the need to increase the product
offerings to a spectrum of wholesale clients by offering comprehensive financial
solutions for Debt & Equity Capital Markets, Structured Finance, Capital Market
products and Advisory, a Bank spokesperson here today said.
The association can also aid Federal Bank in offering a host of products including
wealth management services to HNI and the NRI diaspora. The strategic tie-up would
help shore up non interest earnings for the Bank while creating additional revenue
streams with identified clients.
Commenting on the investment, Executive Director of Federal Bank Ganesh Sankaran
said, “This is a landmark deal that demonstrates the Bank’s wider intent to expand the
horizon of its offerings to serve its wholesale and retail customer base. This partnership
will serve as a natural complement to our strong origination capabilities and deep client
relationships in addition to positioning us as a Universal Financial Services Provider.”
“With a shift in client preferences, our foray into Investment Banking will help us
participate in opportunities and instruments beyond traditional banking products. With
our dominant position in the NR space and a strong customer base of over seven million,
this will also help us provide superior wealth management offerings to our consumer
bank clients,” he said.
On the occasion, Managing Director of Equirus Capital Ajay Garg said, “Investment by
Federal Bank is a strong endorsement of our team’s entrepreneurial venture now on the
path to becoming an institution. With this relationship, we intend to expand our product
offerings in debt, and leverage on Federal Bank’s extensive network and client base to
enhance each of our business lines.”
UNI BM
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Tags: #Federal Bank to acquire stake in Equirus Capital
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