Federal Bank, a private sector lender, said that as authorized by the nomination, remuneration, ethics and compensation committee, MD & CEO has allotted 43,100 equity shares with face value of Rs 2 each of the banks.

The said allotment is made to the option grantees upon exercise of stock options under the bank’s employee stock option scheme, 2010.

Recently, the bank reported a profit of Rs 2.20 billion for the quarter ended Jun. 30, 2014, compared with Rs 1.06 billion, a year ago. Quarterly income totaled at Rs 19.28 billion, an increase of 3.16% over Rs 18.69 billion in the same period a year ago.

Shares of the bank declined Rs 0.1, or 0.08%, to trade at Rs 128.20. The total volume of shares traded was 319,377 at the BSE (12.41 p.m., Tuesday).