Business Today

Double the Bank

Romesh Sobti, who has turned around the mid sized private sector bank over the past 10 years, is now working on doubling the size in the next three years.

When foreign banker Romesh Sobti took charge at the midsized IndusInd Bank a decade ago, there were not many who would have believed in his vision to transform the private bank. The new generation private bank had legacy issues (Ashok Leyland Finance was merged with it), belonged to a corporate house (Hindujas) and other private banks like HDFC Bank, ICICI Bank and Axis Bank (earlier UTI Bank) had taken a huge lead both in terms of brand acceptability and also performance. The global financial meltdown was gradually spreading from the US and Europe to emerging markets like China

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