Budget 2020

Indian Bank set for better growth: MD

A year after the amalgamation of the erstwhile Allahabad Bank with Indian Bank, the combined entity has emerged stronger, said a top bank official.

Its top priorities are providing customer satisfaction and improving asset quality, while arresting fresh slippages, said Padmaja Chunduru, MD & CEO, Indian Bank. “The last financial year was the toughest period in my banking career… Despite the challenges, we emerged as one of the best banks in the country in terms of business, profits and customer acquisition,” she said.

“The bank’s results improved quarter-on-quarter and we were able to see benefits. We are poised for better growth… Right now, we have the highest capitalisation of 14.06% in the industry,” she added.

Ms. Chunduru said that online business mentoring programme MSME Prerana available in digital and local language was a big hit and she urged the bank’s zonal officials to quickly take it up for providing assistance to customers in need.

On IND Spring Board, an initiative for funding start-ups, she said that more collaborations were in the offing.

To mark the completion of the first anniversary of the merger, Ms. Chunduru rolled out the bank’s Mission and Vision statements, it sHR Vision, Chatbot (ADYA) and the IB Smart Office.