Polaris Bank says it has adopted a customer-centric approach as part of its restructuring in order to boost future success.
Reflecting on the lessons learned from the bank’s transitions, the Polaris Bank MD explained, “Having loans and advances concentrated in a sector, business, or individual is like balancing twenty crates of eggs on your head, tripping over a pebble and smashing all egg crates. Funding diversification and cost optimisation are now an integral part of our future.”
Addressing concerns about the bank’s performance indicators, Sonola assured, “Our funding costs have been very competitive in the industry. Earning asset growth is one we are driving. We are very confident our net interest income and margin will witness considerable growth as our strategies mature.”
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