IDBI Bank on 19 September 2017 said it has launched ‘Project Nishchay’ in partnership with The Boston Consulting Group (BCG) to accelerate its turnaround programme and improve financial performance. The project will be led by senior management at IDBI Bank along with BCG, the public sector bank said in a statement.
IDBI Bank Managing Director and CEO Mahesh Kumar Jain said “BCG will assist us to identify areas for cost containment and revenue maximization leading to sustainable growth and profitability of the Bank. “With the support from our consulting partner, we hope to identify and address existing gaps, capitalize on core strengths and improve existing products and processes.”
Coordinating across multitude of initiatives, the Bank will focus on four key areas – revenue enhancement, cost control and reduction, asset productivity and overall program management in consultation with BCG.