A top bank official said that a year after the amalgamation of the then Allahabad Bank with Indian Bank, the combined entity had strengthened.
Padmaja Chunduru, MD and CEO, Indian Bank said that its top priorities are providing customer satisfaction and improving asset quality. “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, profit and customer acquisition.”
“The bank’s results improved quarter-on-quarter and we were able to see profitability. We are poised for better growth … Right now we have the highest capitalization of 14.06% in the industry.
Ms Chanderu said that MSME Prarana, an online business mentoring program available in digital and vernacular languages, was a big hit and urged the zonal officials of the bank to complete it quickly to provide assistance to the needy customers.
On the IND Spring Board, an initiative to fund start-ups, she said more collaborations were in the offing.
For the occasion of the completion of the first anniversary of the merger, Ms. Chundru rolled out the mission and vision statements of the bank, sHR Vision, Chatbot (ADYA) and IB Smart Office.