SRI S.SRIDHAR, CMD, CENTRAL BANK OF INDIA WRITES A LETTER TO CUSTOMERS

Sri S. Sridhar, Chairman and Managing Director, Central Bank of India has written a letter to the customers of the bank. We are reproducing here below for the beneift of our readers.
Dear Central Bank Customer,
It is customary for incoming Chief Executives of organisations to write to customers immediately after joining, assuring the customers of their best attention and outlining their plans for the future of the organization. I did not deliberately follow conventional wisdom as I wanted to write to you after our own strategic thinking had crystallized. I also thought that it would be nice to write to the customers after we have some achievements. That time has now come.
Our Bank recently announced its half-yearly financial results for the six month period ended September 30, 2009. During this half year both, in terms of Deposits as well as Advances, we have outperformed the market. Our total business as of September 30, 2009 stands at Rs.2,43,718 crore. What is most satisfying is that the Bank’s Net Profit for the last half year was Rs.581 crore which is the highest in its history and higher than the full year’s profit of last year i.e. 2008-09 of Rs.571 crore. It is also higher than the Net Profit for the full year for the last ten years with the exception of 2003-04 (Rs.618 crore).
Apart from these impressive financial results, the Bank has introduced a number of new products. These include various loan products for corporate customers, Cent Gold Kisan Credit Card for farmers, retail products such as SMS alert facility, Pre-generated ATM Cards, Debit Cards, Prepaid Cards (Gift cards), retail sale of gold coins, special package for housing loans, special loan package for doctors, etc.
The important aspect of the Bank’s functioning on which I am laying considerable stress is customer service. I am aware, that many of you have complaints and have experienced levels of service which are not and should not be accepted in performing organizations. I have tried to respond as quickly as possible to customers who have written to me about their problems. Customers’ letters receive the highest priority in my office. I have asked my colleagues, particularly the field functionaries at Zonal, Regional, Branch levels to display the same spirit. Customer Service Committees have already been constituted at the Central Office, Zonal Offices, Regional Offices and selected branches. I would request you to join these initiatives as constructive critics.
Central Bank will be celebrating its Centenary year from December 2010 onwards. It is a momentous occasion for us, Centralites. The Bank which was founded by Sir Sorabji Pochkhanawalla as a Swadeshi Bank has over the years evolved into a Pan India large Commercial Bank contributing to the growth of our country. It is the vision of this management to evolve the Bank into a financial service conglomerate. We have launched on April 2009, ‘Operation Navchetana’ signaling our determination to rejuvenate ourselves in the service of our customers. ‘Operation Navchetana’ will cover our people, our business processes, our branches and offices. Technology is being accorded the highest importance. We now have one-third of our branches accounting for 80% of our total business on Core Banking Solution. We are introducing rapidly a number of technology based financial products, particularly for retail customers. We are also leveraging technology for achieving breakthroughs in financing the poor. Internet Banking has already been launched and Mobile Banking will follow shortly.
On behalf of all Centralites, I assure you of our total commitment to the “Maximum Bank” viz., your Bank, the Central Bank of India.
I will, from now on, write to you monthly, sharing with you our wins, both big and small, our failures and the issues that we face.
I thank you for your continued support and interest in Central Bank of India.
With best regards.
Yours faithfully,
S. SRIDHAR