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Seminar talk by Mr. Ravindra Patnaik, Managing Director, Credit Bank Ltd., Nairobi

Topic: Career prospects in Banking and Financial Sectort

Date:January 8, 2011

Speaker Profile :

Mr. Ravindra Patnaik holds a Masters degree in Physics. He took up research in to theoretical nuclear Physics, with contribution of scientific articles to international journals on Physics. He was recipient of national level UGC Research Fellowship. He took it as a great challenge to get into banking and joined as a direct recruit officer (Probationary Officer) in State Bank of India. He passes the professional exams of Indian Institute of Bankers and rose to the level of Deputy General Manager in the hierarchy of SBI which is the largest bank in India. Due to his excellence in his various assignments, he was selected in a national level competition in SBI for posting abroad. He joined as Executive Director of Indo-Nigerian Bank Limited, Lagos, which was a joint venture bank in Nigeria for a 4- year secondment. After return to SBI he was head hunted in 2004 to take up as CEO of Oriental Commercial Bank, Nairobi (Kenya) this was the former Delphis Bank/ BCCI of dubious repute. He successfully rehabilitated the Bank. He joined thereafter Credit Bank Limited as General Manager in 2006 and continuing as MD since 2008.

He is a Rotarian and is the Club Treasure of Rotary Club of Muthaiga (Nairobi) for the second term.


Financial sector is the life blood of any society said Mr. Ravindra Patnaik, MD of Credit Bank Ltd., Nairobi while addressing to the students of  KSOM . Apart from banking, the other aspects of this industry include Securities, Wealth Management Financial Advisory Service, Custodial Services, Financial Consulting, Risk Management Services, Financial Planning, Auditing and Financial Regulatory Agencies (SEBI,RBI etc).

Mr. Patnaik elaborated on the job requirements for the sector which include ability to work with and be comfortable with number crunching, versatility, comfort with technology, honesty and integrity of character, quick decision making, team playing and a lot of ambition.
The sector generally pays more generously than others and attracts bright young minds.

Speaking about the Finserv firms, he said that to compete successfully, today’s financial services firms must have a technology strategy that’s both sophisticated and efficient. Also the industry needs to be more customer-centric. Many banks are therefore, redesigning processes at all customer touch points.
Speaking about banks, Mr. Patnaik said that whether commercial or public, government or private, there are numerous types of banks, e.g. Depository Bank, Central Bank, Community Development Bank, Islamic Bank and Offshore bank, each serving its own specific role.

Talking of Financial risks, he said that every business organisation involves some element of risk. Risk implies uncertainty of profits or danger of loss due to some unforeseen events in the future. These risks are inevitable in a business and cannot be eliminated completely but they can be controlled through proper preventive and corrective measures of risk management.

He concluded by outlining these risks which include Credit Risk, Liquidity Risk, Operational Risk, Market Risk and finally Reputational Risk.