Mr. Shekhar Bhandari recognised for his dynamic leadership in the growing the transaction business as he receives the Transaction Banker of the Year Award (Domestic Bank) at the Asian Banker Business Leadership Achievement Awards 2019
Under Shekhar’s leadership, the bank has reinforced its transaction capabilities through a successful merger of carried cash and trade systems. He took significant measures to oversee the development and launch of unique solutions, which grew the CASA for the bank substantially. Speaking for himself, his achievements multiplied the bank’s transaction banking income growth by 40% in just over three years.
- Shekhar Bhandari brings rich wholesale banking experience with a proven track record in delivering exceptional business performance
- He demonstrated agility to capture new business opportunities in a Digital India
- Under his leadership, transaction bank revenue to overall bank income grew significantly
Bangkok, May 30th 2019 - Shekhar Bhandari received the award for Transaction Banker of the Year (Domestic Bank) at the prominent The Asian Banker Business Achievement Awards 2019. The award ceremony was held in conjunction with the prestigious Future of Finance Summit 2019, the foremost annual meeting for decision makers in the financial services industry in the Asia Pacific region, at Shangri-La, Bangkok, Thailand.
Mr. Shekhar Bhandari, Senior Executive Vice President & Business Head for Global Transaction Services and Precious Metals; Kotak Mahindra Bank; India, during his acceptance speech at The Asian Banker Business Achievement Awards 2019.
Shekhar Bhandari brings rich wholesale banking experience with a proven track record in delivering exceptional business performance
Shekhar is a well-rounded banking practitioner with more than two decades of experience from retail and wholesale functions of the bank. He successfully demonstrated a strong track record in creating tangible business impact by transforming growth in every business endeavour he has undertaken. Shekar comes as one who is passionate about applying technology to banking to make it “Simple and Fast” and has grown the business in areas of foreign exchange on flow, investment and supply chain finance, international trade finance and domestic & cross-border payments culminating into working capital solutions for all businesses under the bank. He was recognised as a leader who demonstrated the acquisition of sufficient experience and expertise to run a sustainable and profitable transaction business while leading a strong team with vision, verve and fortitude.
In the picture: Foo Boon Ping, Managing Editor, Richard Hartung and David Gyori; Member of the International Advisory Council; The Asian Banker with Mr. Shekhar Bhandari; Senior Executive Vice President & Business Head for Global Transaction Services and Precious Metals; Kotak Mahindra Bank; India
He demonstrated agility to capture new business opportunities in a Digital India
Over the years, he has achieved a strong track record of building a sustainable transaction banking franchise as well as in championing and leading strategic transformation initiatives to capture new opportunities in a new Digital India. These include his current role in leading a number of digital product innovations such as smart collect, Electronic National Automated Clearing House (e-NACH), Unified Payments Interface (UPI), automated reconciliation solutions, paperless export collection and trade transactions through blockchain. He is a strong proponent of collaborative ecosystem and has driven the bank’s partnership with 16 of total 22 Indian fintech unicorns.
Under his leadership, transaction bank revenue to overall bank income grew significantly
Under his leadership between fiscal year (FY) 2015 and 2018, the CAGR of transaction banking income was 40%, payments and collections grew 57% while liquidity and trade book increased by 65% and 24%, respectively. Shekhar’s work on merging two varied cash and trade systems in addition to the launch of a common platform across technology and products not only improved customer retention, but significantly expanded the revenue contribution of transaction banking to overall bank income from 38% in FY2015 to 57% in FY2019. In taking pride and ownership of the business, he has shown the ability to implement notable mandates across Government and e-commerce businesses in India, resulting in significant wallet share as well as substantial CASA. Shekhar’s dynamic practice of creating synergy between different teams and cultures gives him a remarkable feat among his local and regional peers.
The Transaction Banker of the Year Award is the highest distinction that can be given to an individual in the transaction banking business. The award is divided into two categories for Domestic Bank and International Bank respectively, to recognise the different roles that each plays in supporting customers.
The programme is predicated on the core belief that “Leadership is demonstrated by the ability to execute to a well communicated vision, by inspiring a strong management team, with courage and passion in overcoming specific adversities in order to deliver a strong and sustainable financial and business performance acceptable to all its stakeholders.” For further information on criteria for Leadership in Transaction Awards, kindly visit http://www.asianbankerawards.com/transactionawards/criteria.php.
About The Asian Banker
The Asian Banker is the region’s most authoritative provider of strategic business intelligence to the financial services community. The company is headquartered in Singapore, with offices in Manila, Malaysia, Hong Kong, Beijing, and Dubai, as well as representatives in London, New York, and San Francisco. It has a business model that revolves around three core business lines: publications, research services, and forums.
To view the Business Achievement Awards 2019 gallery, please visit https://bit.ly/2WcifTO.
For further information on the collaterals for winning banks, please contact:
Mr. Alfred Labicassi
The Asian Banker