Stabilising The Ship

Zarin Daruwala, a former ICICI banker, was picked up by Standard Chartered Bank in India at a time it was facing rough weather. In over three years, Daruwala has not only stabilised the ship but also de-risked the business. A rank holder chartered accountant, she has led the bank's expansion into retail loans, especially credit cards; loan against property; and home loans.

She has also managed to increase the share of low-cost deposits, which gives the bank a competitive advantage in retail banking. The improved performance is reflected in the bank's financial numbers. Its net profit rose from Rs 1,911 crore in 2017/18 to Rs 2,169 crore in 2018/19. The net NPAs are negligible at 0.4 per cent. Daruwala is also investing in technology and digitisation for faster delivery of products. In a banking landscape full of new banking models, fintech players and digitisation opportunities, Standard Chartered Bank is ready to take off to new heights.