PT Bank Ganesha Tbk - Corporate Innovation
Name of Organization / Company: PT Bank Ganesha Tbk, Jakarta, Indonesia
Category: B01 - B09 - Award for Excellence in Corporate Innovation > B03B. Award for Excellence in Innovation in Financial Industries - More than 100 Employees
Entry Title: Turning Around a Sleeping Bank - Remarkable Evolution through Growth and Innovation
Bank Ganesha ("Ganesha") is a small private bank in Indonesia within BUKU2 (core capital IDR 1-5 trillion) category.
Established in 1990, Ganesha was asleep for first 23 years since inception. The previous management was dedicated but lacked the skills, strategy and capital. Consequently, Ganesha offered only basic products to tiny customer base and lacked public awareness.
Progress happens when the new management started to bring drastic changes. Within two years, despite challenging macroeconomic backdrop, Ganesha went through a period of rapid turnaround and growth; consequently delivering record financial performance by formulating new strategy, aligning initiatives and focusing efforts on key areas with greatest impact and long-term value creation.
Building Scale through Strategic Alliances:
•Partnered with Mitra Adi Perkasa ("MAP"), biggest retailer in Indonesia (150 brands incl. Zara, Marks&Spencer, Sogo, Starbucks with 2,000 outlets) and introduced products including Ganesha-MAPClub Savings, whereby Ganesha borne MAPClub Points as acquisition incentive and monthly interests to depositors. First of its kind, the product drives lowcost funds and serves as entry point for cross selling. Reciprocally, this encourages depositors to buy more MAP products and ultimately increases revenue.
•Strategic partnership with leading providers/issuers for Credit Card, Bancassurance, Debit and e-Money.
•Intensified Salary Loan and Payroll Savings for employees of sister companies. Contrary to other Unsecured Personal Loan products, Salary Loan has miniscule NPL since employees receive monthly salary and repay loan installment from their payroll savings.
Financial Management and Inorganic Growth:
Conducted Initial Public Offering in 2016 to strengthen long term funding structure. Oversubscribed 13x, the IPO saw robust demand from investors, who were sold on new management and strategy, amidst market condition and tight competition for funds. Post IPO, Ganesha closed 2016 with Capital Adequacy Ratio of 34.9%; a massive 20.5% improvement. Equity rose 407%, enabled Ganesha to ascend to BUKU2 classification and offer more products including Mobile/Internet Banking, Credit Card & Trade Finance.
Brand Building, Channel Modernization and Better Customer Service:
•Revitalized branding, providing modern, clean and fresh look on tangibles.
•Optimized franchise footprint on head office, branches and ATMs.
•Revamped corporate website to serve as customer acquisition tool with digital marketing on Facebook, Instagram, Youtube.
•Internet/Mobile Banking for Individual & Corporate customers.
•Introduced Service Culture and established much higher SQ standards through Score Card and implementation of ‘Compact, Neat, Clean, Maintained and Diligent’ programs.
•Launched new 24-hour Customer Care Center.
•Introduced e-Sales Kit for enhanced customer experience and closed more sales.
Technology-driven Innovations, Continuous Improvements and Operational Excellence:
•Introduced customer-centric data analysis for better management insight at a more granular level.
•Intensified cost management discipline and increased productivity through ‘Outsource, Improve, Reduce’ programs
(Green Banking) for most operational aspects:
•ISO 9001 certification.
Agile Organization, Human Capital Development and Giving Back:
•Sharpened organizational structure, Vision & Values. Introduced UVP & EVP.
•Improved Competency Standards, Job Grading, Job Description, KPI.
•Engaged LinkedIn to improve presence, reached universities, conducted lectures and job recruitments.
•Implement Shared Service Approach for organizational agility.
•Launched HIPO Development Program. Through prototyping and disruptive approach, HIPOs collaborated in strategic initiatives, built Innovation culture & implement Agile organization.
•Developed HRIS to transform and automate HR processes including recruitment, training & e-Learning.
•Built Idea Corner and library.
•Strengthened CSR by providing financial education and volunteerism in collaboration with partners for synergy.
Despite difficult global and domestic macroeconomic backdrop, Ganesha not only survived 2016-2017, but thrived; with gains made across all areas of profitability, lending, deposit taking, capitalization, branding, organizational capacity and SQ.
Growth performance is better than industry average in key metrics. From early-2016 to September-2017, Net Profit grew 210% Compound Annual Growth Rate, Revenue up 48% CAGR, Assets up 46% CAGR. Loans up 52% CAGR made possible due to much stronger capital. Funding up 29% CAGR. Gross NPL improved to 0.97% from 3.14% in early-2016.
Surjawaty, bankir yang selalu mencari tantangan
Laba Bersih Bank Ganesha Naik 42%
Investor Daily, Tgl Terbit: 31 Oktober 2017