Mumbai: At a glittering ceremony held in Taj Lands’ End, Mumbai, ET Ascent bestowed Mr Murali Ramakrishnan, MD and CEO, South Indian Bank, with the ‘Business Leader of the Year’ award. It was the 21st global and the sixth Indian edition of the recognition.
ET Ascent’s ‘Business Leader of the Year’ awards are a singular platform to recognise leaders for their transformational leadership. Over the years, it has felicitated leaders who have succeeded in making a difference to their organisations during challenging circumstances. Mr Ramakrishnan was awarded the recognition for his role in captaining the restructuring of the bank and putting it on a course of growth. His accomplishments at South Indian Bank have been hailed by various stakeholders of India Inc.
Mr. Ramakrishnan expressed his joy at the event by saying, "I am pleased to receive acknowledgment for the collective action that our organisation has worked in achieving. Our dedication and passion have propelled us to realise the corporate objective. I sincerely appreciate the support my team has given me to create a successful transformational journey. I thank the organizers and jury for recognizing me with the prestigious title."
South Indian Bank went through a transformation in the last two years after Mr. Murali Ramakrishnan had taken charge as CEO of the bank. He started the journey by formulating a ‘6 C’ strategy towards achieving the banks vision of `Profitable growth through quality credit’. The 6 Cs were: (a) Capital adequacy (b) CASA (c) Cost to Income ratio (d) Competency building (e) Customer focus (f) Compliance. This led to the successful turnaround of the company in terms of its profitability and he believes, it is a continuous process.
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