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Case Study Synopsis:
Surya Bank Ltd
S
urya Bank Ltd., a private section bank, set up in 1996 offers products and services to retail and corporate customers , treasury and investment banking services, insurance products and asset management. The bank has wide range of commercial banking and project finance products and services, including loan products, fee and commission-based products and services, deposits and foreign exchange and derivatives products for the corporate sector. The bank also offers agricultural and rural banking products, and its treasury operations include maintenance and management of regulatory reserves, proprietary trading in equity and fixed income, among various others. The services
are delivered through a combination of channels, including branches, extension counters, ATMs, Internet banking, mobile and tele-banking. It operates through 710 domestic branches, 2,230 ATMs, 18 regional offices and 45 extension counters. The domestic branch network comprised 122 rural, 162 semi-urban, 312 urban and 114 metropolitan branches. The bank has a workforce of 16,768 employees, in addition, the bank employs third-party agencies and contractors for tasks like housekeeping and maintenance, security services, cash delivery, logistics and mail handling, IT support, building maintenance, etc.
Operations Surya Bank’s business operations can be divided into retail banking, corporate & wholesale banking, rural banking, treasury operations, agency functions for insurance and mutual fund distribution. Surya Bank faces intense competition in
Delhi’s 2nd Runner-up: Ecricsson Global Services is the second runner-up at the TPL Delhi leg and the team is overwhelmed to receive the honour
all its main business areas. The primary competitors are large public sector banks, private sector banks, cooperative banks and foreign banks. In products and services for corporate customers, Surya faces strong competition primarily from the public sector banks and foreign banks. To streamline and manage its banking operations, Surya Bank uses a core bankingsolution (CBS). The CBS is a suite of software applications that facilitates centralized operations through a single data base.
Business Strategy The key elements of the Surya bank’s business strategy include: yy Focus on growth opportunities yy Enhance retail and corporate franchises yy Extend international presence yy Increase rural banking operations yy Improve risk management and asset quality yy Use technology for competitive advantage
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