The bank grew domestically until after World War II. Then in it crossed the Indian Ocean to serve the communities of Indians in Kenya and Indians in Uganda by establishing a branch each in Mombasa and Kampala. The next year it opened a second branch in Kenya, in Nairobiand in it opened a branch in Tanzania at Dar-es-Salaam.
Excerpts from the interview: You have been servicing both retail customers and small businesses all along. So what is this transformation all about? Yes, we have been offering services to all sections of the populace, including large corporates and institutions.
Now, we have embarked on a technology transformation mission.
This is expected to ease the process of availing retail loans as compared to the past. Until now, we were more aggressive on the deposit front. We plan to address the retail lending space more aggressively. We recently launched a personal loan product, tailored to suit various needs.
We will also be launching a technology platform for small businesses. This would be a structured technology solution, and may be the first of its kind in the industry. We want to deepen our relationship with our retail depositors and refocus our strength in Tamil Nadu and South India.
Does that mean you will be increasing your presence in your home State? Yes, the newer branches will be in the South, mainly to take advantage of our strength here. Karur is a textile hub and textiles have been at the core of our business for a long time.
Again, although we have a pan-India presence, more than 80 per cent of our branch network is spread across Tamil Nadu, Andhra Pradesh and Telangana. Around of our plus branches are in Tamil Nadu. We will be further strengthening our base here.
But the industry has been under pressure. How do you plan to tackle it We have underwritten it adequately. When you understand the business, you can underwrite adequately. We intend to avoid larger consortium lending and cap our exposure.
Credit offtake continues to remain poor. So, what about your growth prospects? Our strategy is to grow our balance sheet in line with the market. While the balance-sheet growth might be slow, we want to focus on better revenues and margin.Take a tour of the Sadasiva Brahmendra Samadhi, India to visit historic site in Karur.
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