| In yet another strategic shift, the country's largest commercial bank, with an asset base of Rs 4,94,000 crore, has put on hold for 90 days its plan to spread core banking solutions across its branches. |
| In an exclusive interview with Business Standard, his first since taking over as chairman, OP Bhatt said the main focus of the bank would be regaining its lost market share, and ushering in a culture of customer-orientation. |
| "We need to offer new products. Overseas acquisitions can wait. We have also stopped putting in core banking solutions in branches. We must iron out all the technological glitches before branches migrate to core banking. What is important is how the business processes change with core banking, and not how many branches are under core banking," he said. |
| About 3,200 of SBI's 9000-odd branches have been covered by core banking solutions. TCS, the bank's technology partner, is now fine-tuning the process to make it more effective. |
| SBI had last year picked up a 51 per cent stake in the Mauritius-based Indian Ocean International Bank, and 76 per cent each in closely-held Giro Commercial Bank of Kenya and PT Bank IndoMonex in Indonesia. |
| Bhatt pointed out that the bank had been losing its market share steadily. "We need to stop that; and consolidate our position." |
| To regain the market share, the bank was planning an array of liability products to ramp up its deposit base. Last year, its deposit portfolio grew by a mere 3.5 per cent. |
| On the assets side, the focus would be on trade financing and structured products. "All branches can do trade financing as it's safe. Our treasury will also develop structured products to meet corporate needs," he said. |
| The chairman also wanted to change the "body language" of the bank employees. |
| "Our front office staff must smile and connect with customers," he said. The bank was in talks with several behavioural scientists and HR gurus to reorient the mindset of its employees. |
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