Private sector lender, Catholic Syrian Bank has achieved growth at a rate which is more than one third of what it had achieved in the last 89 years since its inception.
Speaking about the renaissance in growth, CMD of the bank, Mr V. P. Iswardas said that the success belongs to the entire bank team. He said, "I know each and every CSBian personally. This has helped improve their confidence in my leadership, in motivating them and making them understand that the bank's very existence would be in trouble if we did not work as a team and improve our service."
"I told them that CSB stands for ‘Customer Service at its Best' and sought their support in improving customer service."
"I noticed the change in their mindset and this is reflected in our business. In December 2009, our business was around Rs 9,500 crore, an achievement over a period of 89 years. Twelve months later, our business crossed the Rs 13,500-crore mark, which is roughly more than one-third of what we achieved in the earlier nine decades."
The credit deposit ratio of the bank has risen from 49% in December 2009 to 73% in December 2010.
"I ensured that no asset was lying idle. Divestment of liquid funds lying in low-yield portfolios paved the way for growth in the credit portfolio by over Rs 2,180 crore. This, coupled with infusion of capital through rights shares to the tune of Rs 145 crore, helped maintain the CRAR at more than the required level," he said.