SBT opens GM-led network office in Thiruvananthapuram

http://www.thehindubusinessline.com/industry-and-economy/banking/article3865571.ece

State Bank of Travancore (SBT) has introduced an internal exercise aimed at administrative restructuring and decentralisation of powers. This would effectively mean the Office of the General Manager moving out from the confines of its headquarters here to the respective areas of business operations.

On Wednesday, the bank opened the first such centre of decentralised operations in the capital city.

It is called the Office of the General Manager (Network-Thiruvananthapuram) or simply Network 1, and is headed by K. N. Murali, General Manager.

The new office will coexist with the business and operational headquarters of the 67-year-old bank situated elsewhere in the city at Poojappura.

Minister for Health and Family Welfare V. S. Sivakumar inaugurated Network 1 at a function held here on Wednesday. Speaking on the occasion, he said that SBT deserved to be congratulated for initiating a move for bringing its network and services still closer to customers.

This signalled how SBT, the only public sector to operate out of the State and always considered as its own, has stuck to its avowed ‘customer first’ principle.

Retaining the trust of people is crucial to any business, be it banking or otherwise. That SBT has been able to do exactly it for such a long time speaks volumes of how it has been able to strike a common chord with customers.

The Minister also lauded the SBT management for initiating a number of socially relevant activities through its community banking outfit.

He recalled how the banking industry has come in for flak in recent times, especially on the education loan front.

“These are issues that deserve close attention and treatment,” the Minister remarked. These are also demanding times which call for more intensive and meaningful social initiatives from responsible corporate citizens such as SBT, he added.

Second network

In his welcome address, K. N. Murali, head of Network 1 of SBT, said that the bank had embarked on a restructuring exercise in its retail banking network.

While Thiruvananthapuram will host Network 1, Ernakulam will progressively become the centre for the second network (tentatively called Network 2).

Network 1 will lord it over 447 branches that would come under its tutelage in Thiruvananthapuram and Kottayam zones within the State as also the Mumbai and Delhi zones elsewhere.

All five districts in the State are expected to migrate to Network 1 in phases, Murali said, which would make for business volumes of Rs 50,000 crore.