Syndicate bank has been synonymous with the phase of progressive banking in India. Spanning over 93 years expertise, the bank has created itself a solid customer base comprising customers of two to three generations.
Mrutyunjaya Mahapatra ,MD & CEO of Syndicate Bank addressed the media during the press meet held at the Summit Hall, Radisson Blu, Coimbatore. He assumed charges as MD & CEO of Syndicate Bank on 21.09.2018. He is a very senior banker who has headed global strategy, payments, transaction and transformation programmes of State Bank of India as the Head of Strategy and Chief Digital Officer.
Addressing the media Mrutyunjaya Mahapatra, said that Syndicate bank is adequately capitalized and also added that he is working on the measure to increase capitalization growth. Briefing on loans he said that the bank has surpassed its 3000 crore target in NPA recovery and will exceed 3800 crores by end of the business year. Banks faces huge pressure due to Agricultural Loan waiver which is the major financial loss faced by banks which in turn results in fluctuations in Capital funds. Currently the public sector bank stocks are not performing well but it may gets stable by the end of the financial year.
He said “We are constantly working on Innovation, Imagination & Transformation as our mantra to success” . He added that he will focus more on operating the bank as a catalyst for development across the country with reference to the common man at the Individual level and in Rural / Semi Urban Centres at the area level.