Client Situation

Our client is a traditional bank with a long history in Western India. It has ~400 branches spread across India with revenues of $1.1 Billion as of 2019. The bank planned to significantly leverage its existing strengths and network to build out its latent potential and create value for all stakeholders. Cedar worked with the bank on a transformation project with an initial growth strategy formulation followed by its implementation assistance.

Cedar’s Approach

In this program, Cedar was mandated to develop a way forward strategy for the bank, followed by implementation assistance in the bank’s rapid transformation.

  • Undertook an organisational internal assessment by collecting data on aspects like current structure, headcount, compensation, productivity, finance, customer, process, and IT.
  • Conducted 18 internal and 30 external interviews across 15 banks as part of the assessment process.
  • Conducted a thorough assessment on the macroeconomic, Indian market, and competitive landscape.
  • Developed the bank’s core strategy with an aim to expand the asset book, deposits, and profits of the bank.
  • Leveraged the existing product, channel, customer, and operating framework for the implementation.
  • Identified and implemented quick win opportunities.
  • Designed the new frameworks of the target areas and implemented them in a phased manner to minimize disruption.


The program resulted in the successful transformation of the bank with Cedar’s implementation assistance with key benefits visible through all transformation areas.

  • Identified certain key segments like Corporate/ELC, Retail/SME, MSME/Micro Finance to focus upon.
  • Created and implemented the transformation plan with 11 modules identified, of which 6 were carried out by Cedar.
  • Developed a project plan and charter with transformation cost identified.
  • Recommended and implemented budgets for all business and support functions and designed the corporate/SME credit policy and the collections architecture.
  • Finalized product offerings, customer segmentation strategy and implemented the product architecture.
  • Conducted a vendor selection for treasury, internet, core banking and switch outsourcing.
  • Ensured realignment of the organisation and compensation culture.
  • We made strategy and innovation work.

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