FE Best Bank Awards: A toast to the best and the brightest banks
humble beginnings in 1921, as a bank that catered mainly to the Nadar trading community of Tamil Nadu, Tamilnad Mercantile Bank (TMB) now has a much bigger clientele. Although primarily a retail bank, TMB has customers from local businesses to NRIs and offers a spectrum of services. it has grown its business by more than 50% in just three years and hopes to go public soon. TMB is looking to go paperless by next year through seamless integration at every level. The bank is in the process of identifying rural and semi-urban centres where there is a huge potential, and plans to increase its network to 275 branches and 300 ATMs before March 2012.
Foreign bank
HCBC
Winner
Stuart a davis,
Former Chief Executive Officer, HSBC
After a rough patch in 2008 and 2009, HSBC bounced back reworking its retail loan strategy such that it was less dependent on open sources and focussed more on its customers. The bank has rebuilt its retail loan portfolio in the last couple of years, especially the mortgages piece, while exploring tie-ups to grow the credit card portfolio. HSBC believes the current model will help it grow the business at a more sustainable pace, while it explores inorganic options. It is also leveraging its strengths in the loan syndication and foreign exchange businesses to grow the corporate loan portfolio.
PUBLIC SECTOR BANK
Corporation bank
Runner-up
Ajay kumar,
CMD, Corporation Bank
Mangalore-headquartered Corporation Bank has been growing its loan book by about 25% in each of the last three years but has still reported stable operating margins.
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