“As the country’s largest bank, we recognise both the opportunity and responsibility that comes with this role and remain committed to supporting India’s growth aspirations,” he said in his address to shareholders in the annual report, which was released on Wednesday.
Sharing the vision for the bank, Setty said, “Our strategic priorities will remain firmly centred around strengthening our ‘Digital First, Customer First’ approach.”
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The bank will continue investing in technology, data analytics, artificial intelligence, cybersecurity, and digital infrastructure to create a more intelligent, agile, and responsive banking ecosystem, he said.
The last financial year was a landmark year for the bank, it said, adding, “building on the momentum of previous years, we strengthened our market leadership across key business segments while continuing our transformation into a technology-driven, customer-centric financial institution.”
The next phase of transformation will focus on delivering deeply personalised, seamless, and intuitive banking experiences across all customer segments and channels, he said.At the same time, he said, “Physical banking will continue to remain an important pillar of our relationship-led model. Our endeavour will be to integrate the strength of our branch network with the speed and convenience of digital platforms, thereby creating a truly omni-channel banking experience for our customers.”
The bank will continue simplifying processes, improving turnaround times, and enhancing service quality through continuous innovation and operational excellence.
Initiatives under Project SARAL will continue to drive this transformation through process re-engineering, standardisation, digital integration, and greater use of automation and artificial intelligence, he said.
Strengthening the liability franchise and deepening customer engagement will remain an important strategic focus area.
“We see significant opportunities in expanding digital onboarding, transaction banking, SME ecosystems, and relationship-led banking solutions. Our focus will be on building a granular, stable, and low-cost deposit base while further strengthening customer trust and loyalty,” he said.
The bank also see significant opportunities in strengthening wealth management franchise, expanding relationship-led advisory services, and leveraging technology-enabled engagement models to deepen customer relationships across segments, he said.
“As we move forward, our vision is to build a future-ready institution that combines technological leadership with human trust and business growth with social responsibility,” he said.
Talking about human capital, he said, it will continue to remain central to transformation journey.
Risk management and governance will remain foundational to the bank’s growth strategy, he added.