Wednesday, October 31, 2007

The bank will strive to make a seamless transition from the old identity to the new by end of 2007...

States The bank will strive to make a seamless transition from the old identity to the new by end of 2007...Kaul on the future strategic planning, “The bank seeks to maintain and enhance a strong retail and corporate franchise, strengthen the structures and delivery channels for SME and agricultural businesses, exploit cross-sell opportunities, offer private banking for high-net worth customers, consolidate new business initiatives such as credit cards, wealth management & bancassurance for life insurance and encash opportunities through overseas offices for cross-border trade finance, syndication of debt & NRI business development.” UTI Bank is looking to raise $600 million through Global Depository Receipts (GDR) and list the same on the London Stock Exchange.

Of late, the banking behemoth has been much in the news for obvious reasons – the name change and Nayak’s proposal to quit over issues concerning the split in the roles of CMD (the splitting of roles is much in lines with the Ganguly Committee report on corporate governance & international best practices). The five year - term for using the UTI name (owned by UTI Asset Management Company) expired in January; the bank has decided to adopt the brand name of Axis.

For Complete IIPM Article, Click on IIPM Article

Source :
IIPM Editorial, 2007

An
IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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