Key Strategies

One of our strategic priority is expanding Bank’s CASA base through new customer acquisitions, product propositions and deepening our relations with our existing customers. Increasing Family Banking and product penetration are key drivers behind CASA.

Bank is also planning to offer Health Insurance in tie with Insurance Companies. On investment front, bank is integrating a tech platform for Mutual Fund investments. Online Broking facility is also being strengthened with our partners. Our customers will have multiple options of investments during the year. We are strengthening our product suite by offering Housing Loans, Credit Card, Online Broking, Online Mutual Fund, Health Insurance and Payment Terminals to our customers.

Geographical Footprints

In FY22 we have definite plans to further expand our national footprints by expanding our branch network. Bank plans to add 200 new branches to its existing network of 512.

Digital Banking

It is our endeavor to use technology for improving our processes and to deliver a new age banking experience to customers. Some of the new digital banking initiatives are:

• Account opening process has been digitized with options for customer to apply as well as branch staff to facilitate the process
• Video KYC facility
• Online investment into Mutual Funds
• Online platform for Insurance products

NRI Banking

We are in the process of setting up NRI Branches across key metros and markets with high concentration of NRIs. These branches will give differentiated services for NRIs by leveraging technology. The Bank will also work on setting up a world class remittances platform along with providing PIS offering to the clients. Further, we would be leveraging tie ups with domestic and international institutions for acquiring new NR relationships.

Retail & SME Banking

Gold Loans constituted 42% of total advances as on March 31, 2021 and continue to be a mainstay for the Bank on the advances side. Our Key strategy of penetrating in to rural and urban markets, mainly at unbanked areas presently dominated by unorganized players’ has worked well for both on new business acquisition and yield. We have also enabled multiple channels for gold loan origination which has contributed 54% of the growth during FY 21. NTB (New to Bank customer) strategy has also helped us to grow our gold loan portfolio and with the increased network of branches, the Bank will continue to retain its focus in growing the Gold Loan Book.

For Retail and SME Business, a differentiated focussed approach is being instituted, which is in line with the overall strategy of the Bank for driving credit growth along with maintaining superior credit quality:

• Creating a strong risk framework for acquiring new customers
• Proactively working towards customer friendly solutions to prevent situational delinquencies
• Managing the NPA and Loss numbers within permissible limits
• Delivering operating efficiencies and reduce costs
• Reviewing Industry insights and working on product offering pertaining to identified recession proof Industry

The Bank would be introducing wider range of products, to have larger share of customers’ wallet and to meet their needs. Such products would be governed by structured product programmes specific to the business, which will detail out the criteria on customer selection and underwriting standards. We would focus on client level profitability by working closely with customers through a robust relationship management structure that would focus on portfolio hygiene and wallet share. The Bank would also identify key markets where it wants to penetrate on the SME & Retail Asset side with superior product features.

The Bank, on its new journey, towards building a strong, high quality, scalable Retail and SME Book will be driven by below key objectives:

• Network and Channel optimisation to leverage Bank Branch Network that works on Hub and Spoke models and create Product offering based on market categorisation Partnership model with Fintech’s & Business Correspondents
• Product and Segment based approach that are aligned to the market/opportunity
• Simplify process & policy to improve customer experience
• Enable technology as a tool to help business
• Create robust analytics & data support to help business

We will be launching credit card for our customers this financial year through multiple fintech partnerships. This will be a huge boost to our retail consumers which will complete the retail product bouquet for the customer and will also help the Bank to fulfil all the Banking needs of the customer which will help in customer retention. We have also tied up with HDFC Ltd. to provide Home Loans at attractive rates to our affluent, premium and HNI customers. This will help us in providing full product suite offerings and retain the relationship value of these valued customers through EMI debits in the CSB savings accounts of these customers for which necessary balance need to be maintained in the Bank. This will also help us in gaining larger wallet share from these customers.

Thank you

Pralay Mondal
President - Retail, SME, Technology and Operations