In an interview to The Hindu Business Line, Canara Bank’s new Chairman tells about the challenges, strengths, opportunities he feels and looks forward to at the bank.
Yes, the bank’s USP is customer service. I have known the bank from outside as a very personalised bank. I have served the bank with customer service in mind. I have seen my superiors always spoke about ‘Customer first’ at every small and big meetings.
A military pensioner was as important as a corporate client. An illiterate received a similar treatment as that of a professional. It was all till the automation, in my opinion. Now, I still bank with this bank, but look at the staff at the counters and the persons in charge of the branches with pity, seeing them stare at the machines rather than smiling at the men!
Notwithstanding my opinion about the bank of the present days, the interview with the Chairman of the bank is quite interesting and informative. For the new entrants there is a short course on Net Interest Margin (NIM) in the interview.
NIM is also reflective of the types of economies. In developing countries, NIMs are bound to be higher, and in forward economies, it will be lower. Economy is also slated to grow by 8.5-9 per cent. When this happens, there will be demand for money. The price could be slightly higher, in which case, of course, there is no problem for the banking industry.
Read the full interview online here….
