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Informist, Saturday, Mar. 7, 2026

 

NEW DELHI – Federal Bank has launched a new platform as part of its strategic expansion into the wealth management business. The bank will also restructure its existing wealth management services with Equirus Capital Pvt. Ltd., the lender said in a release Saturday.

 

The bank will offer investment solutions in fixed income, equities, mutual funds, alternatives, and opportunities through GIFT City. Federal Bank will also establish dedicated Wealth Hubs across key locations. "These specialised centres will provide clients with a private, premium environment to engage with relationship managers and portfolio counsellors, review investment strategies, and access research insights across asset classes through both in-person and virtual consultations," the lender said. Virendra Somwanshi will lead Federal Bank's wealth management business.

 

Federal Bank and Equirus will continue to collaborate to fulfil the investment needs of ultra-high-net-worth individuals by offering select products and services from the Equirus wealth management suite. Customers who currently avail wealth management services through the existing arrangement with Equirus will continue to do so without disruption under the current framework, the lender said. Federal Bank continues to hold 8.69% stake in Equirus.

 

"The Equirus partnership enabled the Bank to establish a strong foundation in the wealth management business. In the next phase of growth, we would like to invest more and create our own franchise in this space. We value our association with Equirus and look forward to continued collaboration in areas of mutual strength," K.V.S. Manian, managing director and chief executive officer of Federal Bank, was quoted as saying in the release.

 

For the December quarter, Federal Bank reported a net profit of INR 10.41 billion. Shares of the bank Friday ended a little over 1% lower at INR 286.50 on the National Stock Exchange.  End

 

Reported by Shubham Rana

Edited by Ashish Shirke

 

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