Victory Investment

Archive for the ‘Investment Banking’ Category

One great place where to save money is by having a savings bank account. It is easy to have an account as long as you obtain the full demands for application and of course you have money for first deposit.

Overview of Security Bank

Security Bank Corporation or commonly known as Security Bank is one of the major commercial banks in the Philippines. It is a public corporation comprised in Philippine Stock Exchange (PSE) with a trading symbol of SECB.

The bank was established in 1951 at Manila, Philippines after the World War II. In 1960, SBC begun to expand outside Metro Manila and started operations in Pampanga.

Some of the commodities and services of Security Bank for its client are savings bank account, checking bank account, e-Banking, time deposits, prepaid and debit cards, credit cards, gift cards, collection services, and payment facilities.

Attributes of Security Bank Savings Account

In general, a savings bank account has various benefits for its account holders. Interest percentage is the most substantial concern when choosing a savings bank account. Few of the typess of savings bank account at SBC can be seen underneath.

1. Peso Savings Account with Cash Link ATM Card

The profit rate for this kind of account is 0.50% per annum with a maintaining balance of P500. You may make personal deposits and withdrawals using the CashLink ATM Card.

2. Peso Savings Passbook Account

Profit rate for this account is 0.5% per year with a sustaining money remaining in account of P10,000. You may make deposits and withdrawals over the counter using your passbook while banking hours.

3. Build-up Savings

This kind of account gives higher interest rate, allows you to invest every-time and you can withdraw up to three times in a quarter. Interest rate is 1.75% per year and sustaining balance of P5,000.

4. Dollar Savings

If you are looking for a dollar savings account, this account may equip to you. You may bank and withdraw cash in US Dollar over the desk using your passbook. The profit rate is 0.25% per year with maintaining balance of 0.

5. Investment Savings

A savings account with a fixed term investment bank account. You may withdraw the deposit on maturity period by redeeming the authentication. The interest rate for this account depends on the market percentage. The sustaining money remaining in account is P50,000 for provinces and P100,000 in Metro Manila.

6. eSecure Savings Account

This account is an online savings account that can only be opened and accessed through Security Bank Online. Profit rates are greater than a regular savings account that depends on the marker rate starting at P5,000 with a sustaining money remaining in account of P500.

Procedures in Opening a Savings Account at Security Bank

Basically, applying for a savings bank account is not complicated, it is a manageable process. Before going to the bank, you must get the finished requirements like legitimate IDs, evidence of address, and two 1×1 photo.

Upon arriving at the bank, you may immediately proceed to the new bank account counter where all recent applicants may be received. Fill out all request forms including the signature cards that may be given to you. Make certain to furnish all necessary data. After finishing the forms, submit it to the bank officer together with the first deposit of your account for checking and validation.

Security Bank is one of the largest banks in the Philippines with a wide networks of branches and ATMs. It is a good bank you can choose to open a new savings bank account. Applying a bank account is not hard as long as you obtain the necessary documents and enough cash when opening an account.

ICICI Bank is one of the best banks in the country, receiving many top awards such as the “Best Bank in India” by Euromoney. It has won the “Banking Technology Awards 2010″ at The Indian Banks Association in a number of categories including: “Best Financial Inclusion Initiative” (first prize), “Best Online Bank” (runner up), “Best use of Business Intelligence” (runner up), and “Technology Bank of the year” (runner up).

Bank of Baroda is a leading nationalised bank in India. It has received Financial Inclusion Award 2011 instituted by Skoch Consultancy Services Pvt. Ltd. Bank of Baroda has also received many awards and recognition, such as the “Bank of Year 2010 – India” in The Banker Awards 2010 of “The Banker” Magazine; the “Elite Category Award” for “Excellence in Marketing and Brand Communication” for 2005; the Best Bank 2010 award by Business India in recognition of its consistent performance, to name a few.

HDFC Bank is one of the best and safest banks in India. It has received numerous awards, some of which include: Best performer in the Banking category (FE-EVI Green Business Leadership Award ), Best Cash Management Bank in India (The Asset Triple A Awards), World’s Top 1000 Banks (The Banker Magazine), Customer Responsiveness Award – Banking & Financial Services category (Avaya Global Connect 2010 ), Best Trade Finance Provider in India for 2010 (Global Finance Award).

Deutsche Bank is a leading foreign bank in India, offering a broad range of high quality banking products and services like private banking, insurance, investment, wealth management, credit cards and loans. It was named “Best Investment Bank in India 2009″ by the Euromoney Awards for Excellence.

YES BANK has been recognized as one of the best and the fastest growing banks in various Indian Banking League Tables. It has been ranked 2nd amongst New Private Sectors Banks while being ranked 1st on the key parameter of Growth, among 64 Private, Public and Foreign Banks in India at FE Awards for India’s Best Banks.YES BANK’s Investment Banking Group was rated 1st in M&A ‘Outbound Cross Border Transactions’ and 5th in M&A ‘Overall’ category in the Bloomberg league tables in 2006.

Please visit the relevant guide for more information on the best banks in India.

Hedge funds are likely to be the winners from new rules that will drive business away from established investment banks towards businesses not covered by the regulations, according to the Telegraph. Non-banks, which include hedge funds, private equity firms and pension funds, are likely to pick up an increasing share of financing services once provided exclusively by the big banks.  The forecast comes in a report by US investment bank Morgan Stanley and consultancy Oliver Wyman, which predicts tough times ahead for the City.

Wealthy investors are showing a healthy appetite these days for newly minted hedge fund managers, judging by the activity in one Blackstone Group managed portfolio, says Reuters. In about four months, hundreds of individual investors sank some 5m into a so-called hedge fund seeder set up by the New York-based investment firm, a recent regulatory filing shows. Overall, Blackstone’s Strategic Alliance fund has raised .4bn, say people familiar with the fund.

Chicago-based Northern Trust has agreed to buy hedge fund manager Citadel’s fund administration business, Omnium, a person familiar with the situation said Thursday, the Wall Street Journal reports. The value of the deal was not known. Both Northern Trust and Citadel declined to comment. The acquisition is part of the consolidation of the fund administration industry, as hedge funds increasingly turn to institutional investors for capital.

Some of the world’s largest hedge funds and private equity groups have held talks with Spain’s troubled savings banks as they rush to secure €15bn (.3bn) in new capital to avoid a state bail-out, reveals the FT. Funds including Paulson & Co and the buy-out groups Cerberus and Apax have held meetings in recent months with several Spanish savings banks to discuss possible investment. “At the moment, Spain is crawling with hedge fund and private equity people,” said a senior executive at a large savings bank, which are known as cajas.

Investors are still pouring money into China-focused hedge funds despite laggard performance amid a tightening economic environment, says the Wall Street Journal. According to reports, China funds added .5bn in assets in 2010 to a total .68bn, even as their 6.11% gains were short of the global industry average of 10.55%. “The country’s equity markets have reacted negatively as the Chinese government’s concerns about inflation become clear, evidenced by recent increases in interest rates, reduced growth forecasts in its 5-year plan and an increase in reserve requirements in January,” it said.

A Connecticut hedge fund and its manager were sued by the Securities and Exchange Commission for disgorgement of gains made while sending hundreds of millions of investors’ dollars to fraud scheme operator Thomas Petters, reports Bloomberg. The SEC complaint was filed today against Marlon Quan and his Greenwich, Connecticut-based Acorn Capital Group. The complaint also names as a defendant Stewardship Investment Advisors, another firm controlled by Quan.

Standard Bank is a top African banking group that focused on emerging markets globally. The bank’s Corporate and Investment Banking division serves a broad range of client requirements around the world for banking, finance, investment, trading, risk management and advisory services. Standard Bank has received numerous awards such as the Best Investment Bank in Africa (Euromoney 2009), Best Bank for Payments and Collections in Africa (Global Finance Magazine 2009), Best Trade Finance Bank in sub-Saharan Africa (Global trade review 2009), African Bank of the Year (The Banker 2009), to name a few.

Barclays has had a presence in Kenya since 1925, offering personal and retail banking, and Barclaycard credit card services. Barclays Kenya is named the Best Bank in Corporate Banking at the Think Business Banking Awards 2010. It has also been named the Best Bank in Kenya by Global Finance magazine, and it was recognized as East Africa’s most respected financial services company in a 2007 survey by business consultancy PricewaterhouseCoopers.

The Mauritius Commercial Bank (MCB) is one of the top banks in Mauritius, with a strong presence in countries overseas including Madagascar, Maldives, Mozambique, Seychelles, Mayotte,  Réunion Island, South Africa and France. In The Banker July 2010, MCB is ranked 743rd among the Top 1000 Banks; 25th in sub-Saharan Africa; 134th globally in terms of soundness; 42nd for Return on assets; and 116th for Profit on average capital. The bank also received accolades for Annual Report 2009, awarded by PricewaterhouseCoopers: Overall winner, best SEM-7 company and best website at their Corporate Reporting Awards.

Zenith Bank Plc is one of the biggest banks in Nigeria, with a shareholder base of about one million, an indication of the strength of the Zenith brand. The bank has received many top awards such as the Best Bank in Export Finance (Vanguard Bankers’ Award 2008), Most Corporate Socially Responsible Bank in Africa (African Banker 2007), Most Corporate Socially Responsible Company in Nigeria (This Day Award of Excellence 2007), and so on.

National Microfinance Bank (NMB) is the biggest bank in Tanzania and has the largest network of branches. It offers a wide range of banking products to individuals all over Tanzania. It also serves the financial needs of all types of business customers.

Due to the amount of foreclosures, there are potential home buyers who are delaying their plans to purchase a home, while others are purchasing real estate for investment purposes. Many potential home owners seek property within specific areas to raise a family, or as the final home for retirement years. The market for home sales allows the potential home buyers several options in which to make that important investment. Bank owned property is becoming a market where families can afford a home, while investors can make a profit.

There are several steps to foreclosing on a home. When the occupant has not been able to prevent foreclosure, the lender will then try to sell the property at auction. If auction sale is not successful, the only alternative is for the bank to take possession and sell the property. The banks will often use a settlement agency, which in turn works with real estate brokers. The banks primary concern is to get the highest price as possible for foreclosures as they can and hopefully, make a profit. However, their main concern is to recoup their investment costs.

Although buying bank owned property can be a great deal, there are pros and cons of doing so. Most banks will sell these homes in “as is” condition, making the buyer responsible for all repairs, as well as any liens against the property. As with making any real estate purchase, the prospective buyer should have an inspection completed, as well as a title search for back taxes, liens and any other issues which may in turn prevent the sale or become an added cost to the buyer. In some cases, the cost of repairs may give the prospective buyer some leverage in getting the property for less than the asking price. In some cases, the lender may pay for all existing liens and repair costs in order to sell the property and recoup as much of their initial investment as possible.

Real estate brokers are beginning to list bank owned property in their listings when they advertise their listings in the newspaper. There are online sites in which to find foreclosure homes, but often these services charge a fee. Online searches can be done by searching through the online listings of the various local real estate brokers and then contact them directly for more information on the available bank owned property. Your real estate agent will use the MLS to locate these homes for you. When buying bank owned property, let your agent work with the settlement agencies, as they would with a private home owner, to get the best deal possible for you. Buying a bank owned property may be a way to obtain the perfect home, which otherwise is not within your budget.

The capital markets have helped many investors – small, mid cap or large institutional investors make a lot of money over the last few years. Plenty of markets around the world have done well and rising economies have given the best returns and certain South American markets and also Asian markets like India, China, and Singapore have all done well in the recent past.

Iceland is no exception to the recent global trends and has emerged as an interesting and viable investment destination providing a range of attractive investment opportunities for international investors from all over the globe.

Whether you are looking at investing in funds, stocks, bonds or foreign exchange, Iceland can offer all kinds of investment opportunities. Icelandic banks like Kaupthing Bank, which is the biggest bank in Iceland, offer their customers the full range of investment products.

One of the main reasons why international investors are noticing Iceland as one of their investment markets is because of the financial and economical stability that the Island country enjoys. Iceland is actually the smallest country in the world to have its own currency and floating exchange rate. Iceland is also considered as a modern economy having excellent institutions and at the same time has extremely low corruption; it maintains a good rule of law, provides higher education and has complete freedom of the press – a combination which many economies around the world cannot match.

Iceland is actually ranked as Europe’s most competitive economy. The key sectors for investing in Iceland are Information Technology and Telecomm, Life Sciences, Creative Industries, Energy and Finance.

According to an article published by Dr. Asgeir Jonsson who is the Chief Economist of Kaupthing Bank, Iceland which is titled “The Icelandic Economic Miracle – Where does the money come from? – The Normalization or Europeanization of Iceland” – the GDP of Iceland has grown 50% in real terms since 1995. According to Dr. Asgeir Jonsson, Iceland’s success during the past years has six distinct roots. They are:

- Very strong growth fundamentals

- Free market reforms paying off

- European Integration

- A fully funded pension system

- Low world market price on capital

- Scale economies & Investment banking

The Iceland Bond market offers one of the best investment opportunities in Iceland. The bond market represents 33% of the total market value of the securities listed on the stock exchange in 2006 and around 50% of the turnover. The bond market consists both of primary and a secondary trading. The primary stock market generally takes the form of bond auctions, while the secondary market is mainly operated on the Iceland Stock Exchange (ICEX), which serves the needs of both parts of the market. Issues and sales of bonds on the market have been built up in such a way as to serve both borrowers and investors.

More and more investors around the world are all of a sudden waking up to the major investment opportunities that Iceland has to offer. In fact according to the report by Frederic S. Mishkin and his co- author Tryggvi T. Herberrtsson “Iceland has a strong fiscal position that is far superior to what is seen in the United States, Japan and Europe”

In the years to come Iceland could develop in to one of the premier investment destination of the world and probably the most preferred investment hub in Europe.

Your decision to have a finance career can be a start of something big for you. According to latest employment and business trends, the growth of the world economy plus the increasing number of people retiring in the next decade will create a demand for finance professionals.

Commercial banking means having an opportunity to work in the areas of financial management, accountancy and auditing, securities, commodities and financial services sales. There’s also an opportunity to work in the area of financial and credit analysis since commercial banks are there to provide banking services to individuals as well as small and large businesses and organizations.

People who work in banking and finance are paid well for the work that they do. Four of the fields that many professionals get into include accountancy and tax, Insurance, investment banking and retail banking. Let’s talk about each of these.

For people to work in accountancy and tax, you need to graduate and get your CPA or certified public accountancy license. To learn more about what you will be doing, many have to complete an on the job training with a legitimate accountancy firm.

The training period is about three years and afterwards, you can continue on staying with them, working for another firm or going into private practice.

Insurers just like accountants need to be licensed. This varies from state to state so you have to study and then pass the exam. Once you do so, your career may get you to sell property or casually insurance and life or health insurance.

You should also take further classes in the future because although you have your license already, rules change and you have to be aware of them.

Perhaps the biggest challenge selling insurance is deciding whether to work for an insurance company or doing this on your own. There are advantages and disadvantages doing both. When you are employed, you get a basic salary while those who decide to work for themselves can only make money earning commissions when a sale is made. How well you do is entirely up to you.

Investment banking is different from regular banking because you are there to raise capital for a company by issuing shares or bonds. Later on, you may even work with a team that advises companies regarding mergers and acquisitions.

Also under investment banking is capital markets. Here, the professional is tasked with trading bonds stocks and other financial products to increase the portfolio of the client.

But before you get into that, most entry levels personnel start out doing research first about certain companies and who are their competitors. Their information is then passed on to the account managers who will then advice the client.

Lastly is retail banking which many of us are aware of because these are the people we meet in the bank from the teller to the bank manager when we need to deposit or withdraw cash and apply for a loan.

Unlike accountancy or insurance, you don’t need to get a license to do this kind of work. You just have to be customer oriented with strong interpersonal and communication skills since you will be dealing with people.

Tax and accountancy, insurance, investment banking and retail banking are the four basic types of jobs for anyone that wants to pursue a banking and finance career after graduation from college. Career progression in any of them is excellent and this can only happen with additional training and at times a license.

This can be achieved by part time study so all you have to do now is weigh your options and then go for it.

If you are NOT earning a on your Pension Fund, IRA or 401K today, and sleeping well because it is secure, then you should read on.

I buy and sell single family homes in the Atlanta area and I have gotten pretty good at buying houses at DEEP DISCOUNTS. This is especially true in today’s market when banks are eager to sell houses at 40-50% of present market value.
Sometimes I come across a deal where I just don’t have time to wait around for the long drawn out process of dealing with a bank in order to fund the buy. So what I do is find someone who has some money to invest who isn’t really happy with 1.5% on a CD or Money Market and instead wants a GREAT return on a SAFE and SECURE investment.

I use their IRA money to purchase the home and fund any repairs required and in return, they get a first mortgage a Security Deed on the home,title insurance and a GREAT interest rate on their funds. In most cases the mortgage will be only 50% of the value of the home.

The investor who owns that home (me) will have lost 40% of his equity, but the lender (you) hasn’t lost a dime and in fact will still earn the guaranteed GREAT interest stipulated in the Mortgage.

When I sell the house, your Pension Plan is paid back all the money borrowed along with the guaranteed interest. We never touch your money since your plan Trustee wires the funds to the Closing Attorney, who in turn wires the repayment and interest cash directly to your plan Trustee.

Funds in your Pension Plan, IRA or 401K are secure and can earn guaranteed HIGH interest, income tax deferred, but to make it even better, we suggest you convert your conventional plan into a ROTH 401K or IRA and your earnings are TAX FREE. We can show you HOW. It’s fast, easy and SAFE.

Now, I won’t pretend to ignore the elephant in the room…….the crisis caused by the recent Mortgage Upheaval. Remember what I said about the loan to value ratio being about 2:1 or 50% LTV on my program. That is what makes this such a SECURE plan. In years past, bank stock was considered the “gold standard” in investments. Banks used to require 20-30% down payment and proof of employment and proof of your ability to pay back the loan. Home mortgage defaults were few and far between. Once those standards were relaxed, all bets were off.

Many folks bought homes in the last 5 years with no money down, no proof of income, no proof of credit history and no employment record. (To make matters worse, because prices were increasing at such a rate, many banks offered to loan 10 – 20% MORE than the home was worth.) It was cheaper to buy than it was to rent.

If the home owner had nothing invested in the home, ie, “no skin in the game”, when times got a little tough, there was no incentive to stick it out. Many, many folks just walked away from their homes and allowed them to go into foreclosure. Sure, they took a credit hit for a few years, but many walked away improving their net worth by tens of thousands of dollars. Money they didn’t have to repay to the bank on a home that was suddenly worth much less than they had paid. Once that started, prices began to fall rather than continue the perpetual appreciation of the last hundred years. Thus was born the “sub-prime meltdown”. This makes the loan MUCH safer, more secure than equities or bonds.

We have done Private Lender mortgages for as low as 00 up to 0,000. Larger loans generally earn higher interest rates. Loans are usually fixed rate for 3-5 years but other terms are possible. You are the bank….we will work to make you happy.

If you are interested, let us know by completing the information card on the website. Tell us how much you would like to invest and when your funds will be aailable. We see deals almost every day and as soon as one comes along that meets your parameters, we give you the particulars on the house. We will give you the costs estimates, the comparable sales figures, pictures and details on the neighborhood. If you like the looks of the deal we put a contract on the house and close as soon as your funds are available. Because we can generally close quickly, we are able to get better deals than most.

If you think you might need the money for something else before the end of the note, you shouldn’t enter into the deal. That said, there is NO penalty if you DO want out early. We just locate someone else to take over your position, and substitute their documents for yours and transfer their funds to you. You earn interest based on the length of time your funds are invested. It could take 4-6 weeks to do the substitution, but you DO NOT pay a penalty nor do you have to wait for us to sell the house.

Most Pension Plan money earns guaranteed interest which is accrued until the end of the note and paid with the principal. However, we can make monthly or quarterly interest payments if you prefer. Payments are of course interest only as there is no amortization of the mortgage. Interest payments are paid directly to the Plan Trustee.

Some investors borrow their cash value from their whole life insurance policy, which usually earns at about the rate of a CD and loan that cash into our program to earn at top dollar. The spread can be pretty substantial.

When it comes to finding out bank CD rates, you have a virtually unlimited set of resources at your fingertips. These days, competition between banks for the best CD rates has grown and exploded online, making it easier than ever for consumers to compare rates, deposit amounts and term lengths to find the best bank CD rates for their needs. Here’s what you need to know to get the best possible rate.

Whether it’s a family vacation this summer, or help with funding your child’s college education, a CD is a secure, reliable way to meet your savings goals. That’s because bank CD rates give you a return depending on how much you deposit and how long you leave it there (called the term length). When your CD reaches the maturity date, you can then withdraw it without any penalties, or you can have it set to automatically renew which may generate even more of a return on your investment. Bank CD rates can change however, the accounts with higher interest rates generally have longer term requirements.

Flexibility is key when looking at bank CD rates. For example, you can start with as little as ,000 and invest it for anywhere from six months to five years (and several timeframes in between). This makes CDs a great way to securely save for a future financial goal, whether it’s a year from now, or longer. You can easily compare bank CD rates online, but look closely at the terms and conditions to make sure you’re getting the best deal for your customer loyalty.

Bank CDs, unlike other types of investments, are backed by the security and stability of the Federal Deposit Insurance Corporation, a branch of the U.S. government (if the bank is a member of the FDIC). The FDIC is a federally-backed corporation that insures bank assets like CDs. This type of security isn’t available to all of the bank’s offerings (such as mutual funds and other investments subject to the whims of the stock market), but it makes CDs one of the safest ways to invest your money. And, while the returns aren’t as great as what you might get playing your odds on the stock market, you still get the stability and safety of a reliable rate of return when searching for bank CD rates.

Since 1991, India has been engaged in banking sector reforms aimed at increasing the profitability and efficiency of the 27 public-sector banks that controlled about 90% of all deposits, assets and credit. There has been radical and perceptible transformation in the operational environment of the banking sector. However, these changes have been induced with a view to develop sound and efficient banking sector in India, at par with international banking standards and practices. The banking sector, which was one of the most protected sector for five decades in the country and more precisely the public sector

banks were slowly exposed to deregulated environment in slow and phased manner. The Information Technology (IT) revolution is entirely changing the way banking business is done and has considerably widened the rage of products and services as well as the demands and expectations of customers. Risk Management, Asset Liability Management, Product and Service Innovation, Securitization, Relationship Banking Environment Management are some of the current buzz words in the banking scene. There have been few important developments in response to change forces necessitating the learning phenomenon for the banks.

Some of the issues in the banking sector are :responding to intense competition, changing customer profile, increasing role of IT, innovation, profit orientation aspects etc. These developments have implications not only for present but also for the future in terms of operational aspects. The qualitative aspects of change include prudential norms like asset classification, provisioning capital adequacy, risk management requirements, transparency, corporate governance, changing regulatory supervisory systems etc.  Banking system remains the focal point in the financial set-up of country and more so in the context of a developing country like India. There is importance attached to the banking system, in view of their financial intermediary role in payment system. The banking sector is dominated by scheduled commercial banks (SCBs). According to a report by ICRA limited, a rating agency, the public sector banks hold over 75 percent of total assets of the banking industry, with the private and foreign banks holding 18.2% and 6.5% respectively. 2006-2007 was marked by surplus liquidity, slowly rising interest rates, good credit growth, good returns, mergers and status quo on reforms.

The banking industry caters to the following broad categories of products/services:

i) Retail Banking

ii) Retail products such as credit cards, debit cards etc.

iii) Portfolio Management: Mutual Funds etc.

iv) Corporate lending and project financing (including loans)

v) Investment banking

vi) Foreign exchange trading

All of these areas have attracted substantial foreign interest in the event of the opening up of the Indian economy.

The bar for what it means to be a successful player in the sector has been raised. Four challenges must be addressed before success can be achieved. First, the market is seeing discontinuous growth driven by new products and services that include opportunities in credit cards, consumer finance and wealth management on the retail side, and in fee-based income and investment banking on the wholesale banking side. These require new skills in sales & marketing, credit and operations. Second, banks will no longer enjoy windfall treasury gains that the decade-long secular decline in interest rates provided. This will expose the weaker banks. Third, with increased interest in India, competition from foreign banks will only intensify. Fourth, given the demographic shifts resulting from changes in age profile and household income, consumers will increasingly demand enhanced institutional capabilities and service levels from banks.

The banking industry has already begun the process of redefining its boundaries, refining its products and services, providing alternate delivery channels and improving the flexibility of such delivery to cater to all the financial intermediation requirements of the customers. The success of the banking industry will lie broadly on how it responds to the following challenges:-

v     Technology up gradation

v     Customer centric

v     Response to competition

v     Transparency/Accountability

v     Skilled workforce

Technology brings in fundamental changes not just in product differentiation and delivery but also influences productivity, efficiency and profitability. Technology enables banks to provide better services to the customers where the branch is not necessarily the delivery point of banking services.

Customers are no longer investors or buyers of financial solutions. As service that requires high level of customer interface, understanding customer requirements and evolving customer-centric business strategies is the prime focus area for banks.

Competition is inevitable as more number of banks aim for their share of the market pie. Most banks eye the corporate sector and the metro and the urban markets for business. Technology is today the differentiating factor. But as more and more banks come under the Core Banking solutions umbrella, with little to distinguish between the products and services offered by various banks, service and cost alone will be the determining factors in ensuring the profitability and success of the bank.

With the introduction of financial reforms, the Indian Banking Industry has been pushed into the open to achieve international standards of prudential accounting norms for classification of assets, income recognition and loss provisioning. The scope for ensuring openness and transparency in bank management has also been ushered in. corporate governance will determine the way the Board of Directors manage their banks. This will mean that the management will be accountable to the Board and the Board to the stakeholders. Banks will have to adopt the best global practices of accounting norms and reporting. More transparent disclosure norms will ensure that banks resort to self-regulation rather than base their working on regulatory requirements.

HR practices and training is engaging the immediate attention of banks these days. HRM strategies include managing change, building up a team of committed human capital and improving team work. Knowledge levels are very important and sufficient training should be afforded to the staff. The existing staff will have to upgrade their skills to keep pace with the sweeping changes that are taking place on the technology front in Indian banks. Only this will help in improving the quality of service to the customers as well as justify the investments made in technology and the salaries paid.

Banks in near future will have to address compensation issues, flexible work schedules, outsourcing and retaining talent. To face the challenge, bank requires enhanced skills, new knowledge and behavioral adjustments of human resources.