New chief wants SBI to be retail banking leader

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State Bank of India’s new chairman Pratip Chaudhuri on Friday set his agenda for the largest commercial bank in the country, promising to consolidate the trailblazing gains made during the five-year tenure of former chairman OP Bhatt. Chaudhuri vowed to bring down bad loans and do a balancing act on the teaser home loan issue.

“We will consolidate the gains made during the tenure of Mr Bhatt. Now that we have been catapulted to the leadership position, we would like to consolidate the operations. Deposit taking would remain as important. Technology would be high priority and international operations will continue expansion. We would also bring down non-performing assets (NPAs) to appropriate levels,” Chaudhuri said after chairing the first board meeting of the bank.

SBI’s aim will be to position itself as a retail banking leader. “We need to take corrective measures to boost topline growth,” he said. Bhatt had taken SBI to greater heights through his aggressive moves on the retail front, especially home loans.

Source: IE