IDBI rejigs portfolios of executive directors

Four EDs to share retail biz responsibilities.

In an effort to tone up working, IDBI Bank has reshuffled the portfolios of its top brass. It has effected changes in the responsibilities of 10 executive directors, especially for the personal banking group (PBG), human resources and risk and internal audit.

The management of PBG will be shared by four executive directors to oversee five zones — North, North-East, East, South, West. The bank is particularly focusing on this group to scale up the share of its retail business (deposits and loans).

Sushil Muhnot will co-ordinate the personal banking activity. He would oversee the PBG business in the southern region, as well as the customer care and alternate channels, a senior bank official said. He was earlier looking after the risk management segment.

Other EDs who would be responsible for PBG are R K Bansal for North, K C Jani for West and S K V Srinivasan for the East and North East region. This is an additional task for them apart from their regular responsibilities (Bansal looks after finance and accounts, while Srinivasan oversees micro and small enterprises).

Official said IDBI lagged behind other commercial banks in terms of the share of retail business in the total business. IDBI has a low share of current and savings accounts (Casa) deposits since its conversion from a development financial institution to a commercial bank about six years ago. This raised an asset-liability mismatch challenge, the official said.

IDBI Bank deposits increased to Rs 1,54,305 crore from Rs 1,30,677 crore a year ago. Casa accounted for 15.26 per cent of the total deposits. The bank aims to raise the share of Casa to 20 per cent by March 2011. The Casa ratio is above 30 per cent for most commercial banks.