Management Style and Insights:
IndusInd Bank strongly believes in branch model. It has set a target to open at least 650 branches by March, 2014. However, the bank aims to generate Rs 1.7 revenue for every one rupee spent on account of operating expenses. The bank is also getting encouraging response after hiking its savings deposits rate.
IndusInd Bank is a classic case of management change scripting a turnaround in fortunes. It was December 31, 2008 when the bank’s market capitalization stood at Rs 1,337 crore (Sensex at 9,647 points) and Romesh Sobti, the MD & CEO of the bank, had assumed charge at the helm. This was followed by a series of management level recruits in the next two months.
Today the bank’s market cap stands at around Rs 11,400 crore, an eight-fold jump since 2008 and the broader index is trading above 15,000 points. Unlike the past, the private sector lender now commands respect among market participants.
For full interview of Mr Romesh Sobti, MD of IndusInd Bank with Mr Saikat Das of Moneycontrol, Click here