Mangalore, September 20, 2010: Banking is a challenging business and more challenging is to head a major nationalized bank amid tough competition from the private sector banks. A highly accomplished and experienced banker Ramnath Pradeep recently took charge as Chairman and Managing Director of Corporation Bank, one of the premiere nationalized bank of the nation, which is poised to scale greater heights with its well appreciated style of functioning. He is an exemplary banker who has the backing of nearly three decades of experience in the field.
A law graduate and a post-graduate in Economics, Ramnath practiced law for a short period and joined the Madhya Pradesh Financial Corporation as a Law Officer. He joined Dena Bank in the year 1981 for a brief period and thereafter was incorporated in ONGC Off-Shore Project at Mumbai. In 1984, Pradeep joined back Dena Bank as Senior Manager(Legal).
He was promoted as a Chief Manager in the year 1989 and has since then held various positions in different locations. He was instrumental in launching of Credit Card for Dena Bank and also setting up one of the first Asset Recovery Branches in Public Sector Banks.
He was posted as the Chief Vigilance Officer in the Scale of Deputy Management Director in State Bank of India in 2001 and thereafter re-appointed to Bank of India as Chief Vigilance Officer and then as General Manager (Legal & Recovery). During his tenure, he supported the Bank’s effort to implement Core Banking Solutions (CBS), an outsourcing model, which was much appreciated by the international community.
After completion of his deputation at Bank of India, he joined his parent bank Dena Bank in January 2006. He was the in-charge of IT department and CBS implementation.
He took charge as Executive Director of Central Bank of India in December 2008 and helped the Bank scale greater heights during his tenure. Now, in his new role as the Chairman and Managing Director of Corporation Bank, he has a great vision for the Bank. His ambition is to see Corporation Bank as the preferred bank with global standards to make it a truly global bank.
As Corporation Bank is the only bank to still remain in Mangalore (head quarters) among the four nationalized banks which were founded in this region, the bank should get a minimum of 60 to 70 per cent of the share of business in Mangalore in particular and in Karnataka in general, Ramnath strongly feels.
Stating that the bank has done pioneering job in financial inclusion, he informs that the bank wants to go to rural areas and reach rural people.
Speaking about his priorities, he says emphasis would be laid on increasing CASA (current account savings account) deposits. The bank would focus on opening more CASA in educational institutions and corporate sectors and also to bring small entrepreneurs and roadside vendors under its met . The aim is to increase it to 30-31 per cent from the present 24 per cent in one year, he informs. He also reveals the Bank’s ambitious plan to open 1,000 branches in the next five years “We will have wide reach throughout the country” he adds.
The bank is targeting tier-II and tier-III centres for expansion, as most of them have high potential and need banking support, Ramnath says. The Chairman also informs that the bank is targeting a total business of Rs 2 lakh crore in 2010-11. The total business of the bank stood at Rs 1.55 lakh crore at the end of June, 2010. Revealing another plan, Ramnath Pradeep says the bank plans to start ‘mobile-kanike’ on the lines of ‘e-kanike’ which was recently launched at Shree Kshethra Dharmasthala through Corporation Bank’s e-payment gateway.
With his vast expertise, coupled with the several schemes envisaged, the Corporation Bank which has already carved a niche for itself among the public sector banks, is sure to further extend its wings under his leadership and bring glory to the place of its origin.