Post News Network
Post liberalisation, Indian banking space has grown in a breakneck speed. During this period, banking system has also consciously promoted gender diversity through promotion of many women leaders to head many successful banking institutions. It can be undoubtedly said that Indian banking space has better female representation than manufacturing or other services segments. As per many observers, as women are conservative, more structured, better money managers with huge ability for multitasking, they are better placed as bankers in comparison to their male counterparts.
Orissa Post brings to you the story of some of these women bankers who are currently heading large public and private sector banks in various capacities.
Arundhati Bhattacharya:
She is currently serving the largest public sector lender, State Bank of India as its chairperson. This is not a small feat given the fact that she is the first lady to be in this position since its inception. Placed in the Fortune list as one of the most powerful business women of the world, Bhattacharya has joined SBI in 1977 as probationary officer. During her 36-year career with the bank, she has held various responsibilities which include stints in foreign exchange, treasury, retail operations, human resources and investment banking. She had also served as chief executive of SBI’s merchant banking arm, chief general manager in charge of new projects. She has also been credited to be involved in various new business initiatives of the bank such as general insurance, custodial services and infra fund. She is also slowly providing the largest lender of the country a technological edge through launch of many electronic-based initiatives. Given the huge size, scale and complexity of SBI”s operations with larger responsibilities of implementing different government sponsored initiatives; she is largely successful in leading the bank from the front. At a time, when the Indian banking system is facing huge challenge in the form of rising bad assets, Bhattacharya has waged a war against NPA. With innovative recovery models, SBI’s asset quality remains mostly stable during her stint. With RBI tagging SBI as systematically important bank, SBI is well placed to contribute towards the larger goal of nation building under her leadership.
Chanda Kocchar:
Born in Jaipur, Kochhar took the rein of India’s largest private sector lender, ICICI Bank at a time when the world was staring at an economic recession. With slowdown in retail lending, one of the strength areas of ICICI bank; Kochhar had faced the uphill task of stabilizing the growth aspect, which was slowly sliding due to fall in retail demand. The bank was also facing the problem of rising bad loan due to job losses in 2009. However, Kochhar steered the bank through these troubled waters to retain ICICI bank’s top slot in pecking order of private banks. In her previous stints, Kochhar had worked as Deputy Managing Director of ICICI Bank. She had also managed the Corporate and Retail banking business of ICICI Bank. From October 2006 to October 2007, International and Corporate businesses of the bank were led by Kochhar. Before taking over the role of Chief Executive Officer (CEO) and Managing Director, she was the bank’s chief financial officer (CFO), Joint managing director (JMD) and the official spokesperson. Kochhar, who has master’s degree in Management Studies from Jamnalal Bajaj Institute of Management Studies, is also a cost accountant. Despite rising competition in private banking space with peers such as HDFC and Axis bank cruising ahead at breakneck speed; ICICI Bank is able to retain its pole position due to visionary leadership of Kochhar. Placed in Fortune list of most powerful women, she is credited to take many new initiatives in making banking easier. From mobile banking to focus on retail segment, Kochhar has proved herself to be the fittest candidate to carry the legacy of its previous chairman, KV Kamath.
Shikha Sharma:
Shikha Sharma was one of those bankers who have come from the stable of ICICI bank. Both Shikha Sharma and Chanda Kochhar were groomed by KV Kamath, the then chairman of ICICI bank and today both lead two largest private sector banks of this country. She has more than three decades of experience as a banker, who has started her career with ICICI Bank in 1980. During her 29-year stint with the ICICI group, Sharma was involved in many new initiatives of the bank such as ICICI Securities, investment banking and retail finance among others. In 1997, she was appointed as the Managing Director & CEO of ICICI Prudential Life Insurance Company. Sharma, who joined Axis Bank as its MD & CEO in 2009, has a transformational impact on bank’s balance sheet. While its stock prices has appreciated by nearly 90 per cent, bank’s balance sheet had grown to Rs 3,83,245 crore as on 31st March 2014. Under her leadership, the bank has positioned itself as a pioneer in investment banking space after its acquisition of Enam Securities. The bank’s renewed focus on retail segment has seen its low cost deposit growing to healthy levels with higher disbursal of retail loans. Similarly, the bank has also diversified into other financial businesses like mutual fund under her leadership.
