Over the past few years, the predominant focus has been to enhance our Return on Assets as well as the Return on Equity. At every turn, we have addressed complex questions and benchmarked ourselves to the best in industry standards, so that we can enhance the Bank’s performance across all parameters and in the process be completely self-reliant in the generation of capital.
FY2019 will be remembered as a major landmark in our journey of delivering quality growth across all our businesses. In this respect, we have reached an important inflection point. The hard work undertaken over the last 3-4 years is redefining us to “Be The Bank Of Choice For A Transforming India”. Consequently, we are once again regaining the glory of a world class banking institution, with superior processes and practices. The values that define us are the ones that help us in consistently strengthening our market share, our sizeable balance sheet, our performance parameters and our ability to create sustainable value for our shareholders. We see ourselves once again firmly on this unending journey of leadership in all spheres of banking initiatives.
The challenges faced by your Bank over the recent years have led to revamping of our credit processes, reorganising Risk and creating strong underwriting practices for sanctioning quality loans; adding high quality values on the corporate loan book side; building a robust and growing retail business; strategically pursuing resolutions of stressed assets, with many cases seeing the light at the end of the tunnel; enhancing our branch experience and reach to serve India’s vast population; rolling out of several IT initiatives and pathbreaking B2C platforms; maintaining a highly evolved treasury operations; maintaining our strong deposits franchise as a reliable liabilities foundation to fund credit growth; recalibrating our human resource skills through systematic improvements and innovations.
In addition to our sturdy domestic business, the Bank is having a very large footprint in international operations, for serving clients that are increasingly becoming global. With an array of industryleading and synergetic businesses within our portfolio of subsidiaries, we aim to continuously look towards unlocking value in a carefully calibrated manner.
In the latter part of FY2019, we witnessed the early signs of the turnaround that we had diligently and systematically been working for and multipronged strategies yielded the desired results. Looking forward, we are well positioned on the back of a strong Business growth, Capital and liquidity and ability to charge spreads to be in leadership position, towards steadily improving our ROE to 15% and upwards, and an ROA of around1% sustainably.