New Delhi : NRI businessman M A Yousuf Ali has picked up a 4.47% stake in Federal Bank, thereby becoming the biggest individual shareholder in the Kerala- based lender. Ali brought the 4.47% stake from Dubai-based Emirates Financial Services, a subsidiary of Emirates NBD, newsportal ‘Emirates 24|7’ said in a report. Earlier, Yusuff Ali, Founder and Managing Director of EMKE Group which owns Lulu Hypermarket chain in the Middle East had purchased around 4.99% stake in Catholic Syrian Bank.

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