IDBI Bank hires McKinsey for phase-II growth
After staving off its legacy issues, IDBI Bank is bracing up forTo begin with, it has hired McKinsey & Company to fine-tune strategies.
“They (McKinsey) will help us remap branches, re-engineer processes and refocus on our business,” a senior official told DNA Money. The move came a few weeks ago.
McKinsey is working on a project-by-project basis with the bank and the contract has been kept open.
“We are on a growth path after dealing with our legacy issues of the last 7-8 years. We have built a strong foundation after our integration with IDBI and United Western Bank (UWB) is almost complete. We will now like to synergise the benefits,” a senior official, who preferred not to be quoted, said.
IDBI Bank sources say the management consulting firm has already started work on the first project.
its next growth phase.
