phase of growth based on a three-pronged strategy which looks to transform the organisational approach, business segmentation and in-bank customer experience.
Former MD & CEO, Deutsche Bank
In a challenging environment, Deutsche Bank leveraged its traditional strengths in the equity and debt capital markets, both at home and overseas markets to make reasonably good profits with fees contributing in a big way. Deutsche Bank has attempted to enhance cross-sell of products across all businesses and deepen the coverage for corporates and institutional clients. The bank is looking to expand its retail footprint in the country and increase its focus on the SME segment. And towards this end, it will expand the branch network moving into cities like Surat and Ahmedabad. In the wealth management space, the bank plans to focus on the ultra-HNI segment.
Award for initiative (Financial Inclusion)
State bank of india
State Bank of India (SBI) opened 273 branches and another 553 ATMs in rural areas in 2010-11.The bank also added around 8,000 customer service points (CSPs) in rural areas taking the outstanding tie-ups with agencies like ALW and FINO to 20,763. While other banks may have spread to the hinterland too, SBI has also built its own management information system (MIS) for dealing with about 60,000 business correspondents and business facilitators. Thanks to its own proprietary software, the MIS, the bank’s transactions have not only become very secure and transparent, but also saves on costs as it does not need to pay third-party service providers. The cost of operating a ‘no-frills’ account for SBI is R220 per annum, while it spends a minimum of R50 per transaction for accounts at its branches in semi-urban and urban areas. Today, these no-frills accounts are being used by the customers as personal accounts where they park their savings; there has been a continuous increase in the average balances and also the number of transactions. Earlier, these accounts were being used primarily to disburse state and Central government subsidies. The bank has laid down a road map for extending banking services to rural areas while establishing a strong technology platform for inter-connecting CSPs. The platform has ensured that these account are no longer dormant but fully functional. SBI has also launched ‘Tatkal’, a scheme that targets the urban poor, with the USP being that customers can transfer money to their families in their native towns and villages without actually opening an