The Hindu Business Line : Corpn Bank eyes Rs 1-lakh-cr turnover

Stating that he had not set a specific timeframe for achieving this goal, but would nevertheless reach it soon, Mr Sambamurthy emphasised the need for creating the right environment and focusing on the business goal.

"HR is no major issue in Corporation Bank. The average age is much better compared to some nationalised banks, the responsiveness good and products fantastic. The issue, however, is in process, which is not in tune with our retail banking system. And this involves logistics management, which is beyond the purview of the banks," he told Business Line.

The bank is trying to address some of the process-related issues. Citing an example, he said: "Take retail loan portfolio such as car loan, home loan, jewel loan and personal loan. All branches sanction such advances. To bring down the cycle time and reduce the information exchange layer, we attempted to get the applications processing done by a DDA (due diligence agent) on a pilot basis by roping the entire branch network (of 60) in Bangalore. The sanctions in the last one month have risen significantly. We are now trying to replicate this exercise across 11 cities."

On selling third party products Mr Sambamurthy mentioned the need for unbundling the basket of offerings.

According to him, a branch manager is burdened with 15-20 products, which, if unbundled, would make the selling proposition easier.

"We are working on this because the cross-selling opportunity is phenomenal and there is a need to simplify the cross selling process. Transaction execution should be automated."

On acquisition, he said that he was not keen on hostile takeovers - as the integration would not be there - adding that taking over public sector banks was out of the question. However, if any bank was willing to join hands with Corporation Bank "we are ready."

The Chairman ruled out public offering of the bank's shares.

To a query, he said: "Outsourcing is not to improve productivity level but to deliver better and improve cost efficiency."

The bank has identified 114 villages for financial inclusion. This year it has opened 20,000 no-frills accounts and is planning to double this number before the end of the fiscal.

It is also trying to work out a micro-pension scheme, taking advantage of its association with LIC.

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