Bearish signal on daily chart
The Bank’s journey on its Digital agenda continued at pace, with more than 50% of its sales across retail liabilities, assets and wealth products done via digital platforms, helping drive sales efficiency.
Concerns are on MSME sector
The Business Banking Group (BBG) which fulfils the financial needs of the Bank’s MSME customers followed a cautious approach towards new customer acquisition during FY20, looking to the overall economic scenario. Increased emphasis was laid on portfolio granularity through expansion of the client base: 85% of the customers acquired during the year were of ticket size of less than `2 crores, and almost 50% of these were sourced through the Bank’s own branch network.
Using GST payment as appraisal tool
The Bank enhanced its product offering for this segment with the launch of ‘GST and Banking Secured Overdraft product’ during Q3-FY2020. This is a score-based template product which relies on customer’s banking and repayment behavior, GST payments, and collateral, for making instant appraisal decisions.