Visited a local branch in Nagpur today. Sharing below insights after spending a good one hour interacting with the local customer experience manager -
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Work culture - two of the employees I interacted with were Ex Axis and Standard Charted who joined the bank in last two years and said this bank relatively has a relaxed work culture. There is no pressure to cross sell products that customers don’t want. Particularly insurance is something other banks pushes very hard to sell and it often creates a bad experiences with the customer.
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branch performance- the specific branch crossed 104 cr in CASA and per their estimate should easily add 100 cr by another year. The newest branch in town that was opened earlier this year, breakeven in 4 months. Their is a pull demand for multiple loans and one of the key competitive reason is bank offers a higher limit loan than the standard limit one would get from the competitive bank. This is for the secured loans.
They did acknowledge the practice of requesting customers to do transfer before the month end like every other bank , however also confirmed that customers have been sticky with their deposits. -
it was evident that they admire the leadership of Mr. Vaidyanathan and the simplicity in his conduct.
Thank you,
Ram
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