K Subrahmanya Sarma, V Krishnamurthy and Bobby Jose C on Thursday were unanimously elected as directors of the Catholic Syrian Bank (CSB) at the 89th annual general meeting held in Thrissur.
Addressing shareholders, S Santhanakrishnan, non-executive chairman of the bank, said CSB was looking at various options for raising capital and might look at the inorganic growth by acquiring a non banking financial company. The bank will be leveraging technology for business growth. It will also focus on various corporate social responsibility activities, he added.
VP Iswardas, MD & CEO, said they were striving to become a top-class bank with a pan-India presence with special attention on service delivery, technology, risk management and market discipline. The bank would give equal focus on corporate and retail banking platforms and double its market share over the next three years. By the end of this fiscal, the bank was looking at increasing the number of branches to 400, subject to regulatory approvals, he added.
During the fiscal 2009-10, deposits and advances grew 10 per cent and 21 per cent respectively. The credit deposit ratio improved to 64.01 per cent from 58.17 per cent and net NPA reduced to 1.58 per cent from 2.39 per cent.
