Attracting NRIs with new products & partnerships

Thomas Joseph K, Exec VP & Chief Business Officer at South Indian Bank, and Maneesh Ajmani, Head - Preferred Banking, NRI, Investment Services & Bancassurance at RBL Bank, share interesting updates about NRI customer engagement

South Indian Bank has nearly customers with a half-a-million proportionate number of accounts. It has 932 branches, 1154 ATMs and 121 CDMS/CRMs across India. RBL Bank currently services more than 12.91 million customers through a network of 517 branches, 1166 business correspondent branches (of which 298 are banking outlets) and 414 ATMs. It has a substantial presence in Kerala, Tamil Nadu, Andhra and is also growing in Mumbai, Gujarat and Delhi.

Thomas Joseph updates: "At South Indian Bank, NRIs comprise 7% of our total customer base. Traditionally we have always grown substantially in Kerala; however with a focused approach are growing in Mumbai, Bangalore, and Hyderabad. The bank is also giving special focus on strong NRI potential areas like Goa and Pondicherry." At RBL Bank, NRIs constitutes 5% of overall base for the customer base. The top 3 markets having NR customers are Mumbai, Punjab and Kerala. Maneesh Ajmani, updates: "We have been observing growth of NRI customers in these geographies. With covid reducing over past year, we have also seen lot of NRIs coming to India to meet their family."

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