At union bank of india, we want to be much more than a bank: we want to be a digital forward bank. We want to be the vanguard of the industry in terms of embedding digitization across the full range of banking processes and services.

We are on a well-charted course for modernising our core technologies to become a bank of the future. This started by realizing that we are not just a bank, but also a technology company. Today, we intend to implement best-in-class digitalisation efforts across the board and link them directly to our p&l. We are carefully bifurcating our businesses that lend themselves to the digital segment and the traditional segment, and are accelerating the adoption of digital behaviour at all the right nodes of our overall business. The results are tangible and promising: we can easily see that digital customers have much higher income per customer and cost-to-income ratio compared to the traditional segment giving us the potential to be a highly productive and efficient bank. We are also becoming digital to the core in terms of our mindsets and organisational culture. This involves a deep indoctrination of our people for each change agenda, and the adoption of customer-journey thinking to understand how they would actually experience our applications.

Over the past few years, we have been doing many things to enhance our return on assets. At every turn, we have always looked to surpass industry excellence standards to improve the banks lending performance, profitability, asset quality, and the pace of capital generation. A key strategy underpinning this is our undeterred focus on innovation, customer service, and value creation, making us a digital-forward bank. We remain committed to our journey towards strengthening our financial position, while building our future growth through our people and technology.