CSB Bank IPO - Grey Market, GMP & Reviews

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About CSB Bank Limited

They are one of the oldest private sector banks in India with a history of over 98 years, and a strong base in Kerala along with significant presence in Tamil Nadu, Karnataka, and Maharashtra. They offer a wide range of products and services to their overall customer base of 1.3 million as on March 31, 2019, with particular focus on SME, retail, and NRI customers. They deliver their products and services through multiple channels, including 414 branches (excluding three service branches and two asset recovery branches) and 277 ATMs spread across 16 states and ftheir union territories as on March 31, 2019, and various alternate channels such as micro ATMs, debit cards, internet banking, mobile banking, point of sale services, and UPI. They believe with their focus on quality of service and nurturing long term relationship with their customers, they have developed a well-recognized and trusted brand in south India, particularly in the states of Kerala and Tamil Nadu.

While their Bank has a long operating history as a traditional bank, they are currently focusing on implementing strategic changes in business model to function efficiently as a full service new age private sector bank backed by their new globally reputed promoter - FIHM. To this end, they are re-aligning their organizational set-up for efficiently driving their operations and business strategy, wherein branches will be responsible only for deposits, cross-selling, and customer servicing, and all loan products will be driven by dedicated teams, with each business team operating as a profit centre. They are in the process of rebranding ourselves to “CSB Bank Limited” to address region and community related perceptional issues associated with their previous brand name. They are engaged in lateral hiring along with hiring of new recruits by offering market based compensation with a performance linked variable pay component, including employee stock option plans, which will align their employees’ interest with the performance of their Bank. They are adopting a partnership based approach for sourcing business for certain products and for select operational functions instead of developing in-house capabilities for each function, which will help us to scale up in a more efficient manner. They are also expanding their products suite, services, and digital banking platform, with investments in technology aimed at improving their customers' experience, making it easier for them to interact with us, and offering them a range of products tailored to their financial needs.

Incorporated in 1920, Kerala based CSB Bank Ltd, formerly known as Catholic Syrian Bank, is one of the oldest private sector banks in India. The bank has a significant presence in Kerala, Karnataka, Tamil Nadu and Maharashtra. CSB Bank Ltd has ftheir business areas, which are SME Banking, Retail Banking, Treasury Operations

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