The CEO of the lender that was near collapse opens up about the challenges of the turnaround.
Advait PalepuSubscribe to read this story
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Once considered a panacea for the bank’s troubles, the retail banking segment seems to have become a threat to the private lender’s profitability.
The increasing convergence of sales and service functions, with consequent non-stop pressure to meet targets, has seen employees jump ship in droves. This has the potential to adversely impact the financial institutions’ health.
The bank, following its March 2020 bailout, may have gone overboard in its quest for safety. That may soon change as it looks to acquire a microfinance business with the promise of high returns.