Old Indian Banks Losing
Dun and Bradstreet have unearthed some interesting recent shifts in the Indian banking sector from their report on ‘India’s Top Banks’. Old private banks such as Federal Bank, South Indian Bank and City Union Bank are losing out in market share to their modern counterparts. It is no wonder then, how many old banks, both nationalized and private are re-branding themselves to counter competition from the snazzy global banks. Recent branding makeovers have included Canara Bank, Bank of Baroda and the Jammu and Kashmir Bank. And given the mindset of the common Indian about how nationa-lized banks are still more approachable and efficient, the new logos and better services will only go on to reassure customers. The DnB report also states that some old-time private sector banks continue to fare better in the growth of net profits, while naming ICICI Bank and SBI as the best banks in their respective categories. Read more from the report here.