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Indian Financial institution has featured within the Harvard Enterprise Publishing for its profitable merger with Allahabad Financial institution. The primary-of-its-kind seamless merger of equal-sized Indian banks, with prominence within the southern and japanese areas of the nation, has been nicely recognised and revealed by Harvard Enterprise Publishing as a case research.
Curated by Indian College of Enterprise (ISB), this distinctive case research titled ‘Merger of Equals: The Amalgamation Story of Indian Financial institution and Allahabad Financial institution’ encapsulates the outstanding journey that Indian Financial institution launched into to efficiently execute the amalgamation course of.
‘Merger of Equals’ narrates the whole integration course of, which comprised rigorous strategic planning and execution by Indian Financial institution, with particular give attention to the challenges confronted and their solutions discovered. The merger has made Indian Financial institution a pan-India lender, with vital presence in southern, northern and japanese elements of the nation.
A launch by Indian Financial institution stated the amalgamation train ‘Venture Sangam’ entailed a three-pronged strategy on product / course of, employee-customer communication and IT integration. The synergy advantages of the merger have began reflecting by way of price efficiencies as evidenced within the decline in cost-to-income ratio of the financial institution (40.86% for QE June 2021). The mixing of IT operations and programs have additionally resulted in economies of scale by vendor rationalisation, finer pricing on AMCs and improved operational efficiencies.
Padmaja Chunduru, MD and CEO of Indian Financial institution, stated, “We’re privileged to witness our amalgamation course of featured within the main publication of some of the prestigious establishments of the world. This can be a testimony to the fixed dedication and sincerity of the whole Indian Financial institution workforce which helped obtain this strategic merger. We wish to take this chance to thank ISB and Harvard Enterprise Publishing for acknowledging the efforts of Indian Financial institution.
The merger has given Indian Financial institution a definite expertise of constructing synergies between two banks with huge legacies. We hope this case research will assist readers perceive the large image of this exemplary merger.”
The 2 banks merged effectively whereas addressing the challenges of human capital, diversified cultures and geographic places.
This case research of Indian Financial institution’s merger course of can be utilized by college and trainers from varied enterprise faculties and organisations, globally.
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