Among its multinational rivals in India, Standard Chartered Bank is the only bank to open two branches staffed entirely by women, and its efforts to provide “differentiated financial services” seem to be paying off.
“We’ve got very good feedback in terms of customer satisfaction,” branch manager Sharon Sethi said on Wednesday at her office in New Delhi’s Basant Lok Complex.
“Ladies tend to be a little softer, which is why, from the clients’ point of view, they will find it more comfortable to be with female bankers,” she said.
PHOTO: JOYCE HUANG, TAIPEI TIMES
The New Delhi women’s branch has 19 staffers, all women, including its two female guards. It was established in October 2007 and serves men and women alike, with more than 17,000 customers from more than 10,000 households, Sethi said.
The bank’s other women’s branch, located in Calcutta, opened in May 2007 and also has less than 20 staff. The bank plans to open a third women’s branch in Mumbai.
The New Delhi branch focuses on retail banking, providing financial expertise and advice on a wide range of questions, including mortgage plans, wealth management and investment portfolios. It offers financial consultancy on general banking and small and medium-sized enterprises, which are dominated by men, as well as high-end priority and premium banking services.
Although it does not cater to women exclusively, International Women’s Day, March 8, is a special day at the branch, she said.
Last March, the branch’s financial advisers offered consultations for women customers to assess their financial health and planning. The bank brought in health staff as well to offer basic health checks including blood pressure readings, the manager said.
Workshops on non-financial topics were also organized, attracting more than 40 customers, including one who flew from Australia specifically for the event, Sethi said.
She said the investment preferences of the branch’s customers varied, but women customers tended to favor Indian insurance products during the past year’s economic difficulties. The branch’s sales of these products have gone up more than 5 percent year-on-year, Sethi said.
Although the branch does not offer corporate banking services, it helps potential women entrepreneurs assess their financial needs and refers them to other departments, the manager said.
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