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Corp. Bank to work for `double bottom line'

K. T. Jagannathan

To tap potential of not-so-well-off customers, raise the bar for employees

CHENNAI: B. Sambamurthy, on Saturday, took over as the Chairman and Managing Director of the Mangalore-based Corporation Bank.

Prior to this assignment, he was the Executive Director of the city-based Indian Bank.

In an interaction with The Hindu group of publications immediately after assuming office here at the regional office, Mr. Sambamurthy said he wanted Corporation Bank to move away from `single bottom line focus' to `double bottom line approach.' He said the focus had always been on "well-off customers'' and "already-served customers.''

"We have to focus on neglected areas,'' he said. In this context, the new CMD singled out SHGs (self-help groups). "These (SHGs) are not fully serviced,'' he said. The recovery rate in this segment was 99 per cent, he added. He saw immense scope for providing education loans to students. "Catch them young and grow with them'' should be the philosophy, he added. He also identified rural area as among the segments for double bottom line focus by which "the society gains so does the bank.'' He indicated that his immediate priority at Corporation Bank would be to work on establishing a framework for the `double bottom line focus'.

The CMD said he would lay much store by three `Ps' — people, process and products. His immediate concern would be to raise the performance bar of the bank's employees.

"We need to challenge them,'' he added. Mr. Sambamurthy said he would be meeting a cross-section of its employees soon in this regard. "It (Corporation Bank) is a good institution. We have to make it great,'' he said.

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