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Fraud-hit Punjab National Bank has been ranked first among public sector banks in the implementation of ‘reforms agenda’, followed by Bank of Baroda and State Bank of India, according to a report on Thursday.
The BCG-IBA report – EASE Reforms for Public Sector Banks – measures the performance of each PSB on 140 objective metrics across six themes, including customer responsiveness, credit offtake, and digitalisation.
‘Strong performance’
PNB, with a score of 78.4 out of 100, has been ranked first in the EASE (Enhanced Access & Service Excellence) index, followed by BoB (77.8), SBI (74.6), Oriental Bank of Commerce (69), Canara Bank (67.5) and Syndicate Bank (67.1). PNB has shown “strong performance” in parameters such as customer responsiveness, responsible banking, credit offtake and financial inclusion.
The bank, which was involved in a ₹14,356-crore scam by Nirav Modi, swung into the black in the October-December quarter after posting losses in the three previous quarters.
The bank’s net profit rose 7.12 per cent to ₹247 crore in the three months to December 2018, on speedier recoveries and a slide in bad loans.
The six PSBs that continue to be under the RBI’s prompt corrective action (PCA) framework, too, have been ranked in the report. These are Indian Overseas Bank (66.7), UCO Bank (64.1), United Bank of India (60.8), IDBI Bank (60.2), Central Bank of India (55.7) and Dena Bank (53.8).
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