ICICI Bank’s former managing director & chief executive officer Chanda Kochhar was quite fond of talking about her 4C strategy (CASA or current and savings account deposits which are inexpensive; credit quality; cost; and capital conservation). The 4Cs indeed helped the bank get back on track. The problem she inherited in 2009 had forced her to go in for a radical reversal in the bank's strategy. She toned down the earlier exuberance (30-40 per cent annual growth in credit portfolio with consumer loans making up two-thirds of its total book) and muscular image (bank employees forgot that they had to be humble and listen to customers). Ms Kochhar didn’t sit on her ego and made ICICI Bank a cautious entity. So risk was out and profitability was in, even if it meant reduction in the balance sheet size. There is no doubt that she indeed calibrated a huge change in strategy, got the team to buy into the vision and executed it well.
TO READ THE FULL STORY, SUBSCRIBE NOW NOW AT JUST RS 249 A MONTH.
Already a premium subscriber? LOGIN NOW
What you get on Business Standard Premium?
- Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
- Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
- Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
- Pick your 5 favourite companies, get a daily email with all news updates on them.
- 26 years of website archives.
- Preferential invites to Business Standard events.
Subscribe to Business Standard Premium
Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!
First Published: Wed, October 10 2018. 23:04 IST