Bancorp Bank is ready to help bank staff struggling with depression
Bank of America, the world’s largest bank by assets, is preparing to help staff struggling to cope with depression as it announced it was extending its support to the banks of India with a pilot scheme that will see up to 200 employees of the Indian branch of its branch in the country.
Bancorp, which operates more than 100 branches in 20 countries, said on Monday that the bank was working with the banks to extend the support and “will provide assistance in order to improve the functioning of our customers”.
The bank has been running a pilot programme to see how the Indian banks would respond to staff members who are suffering from depression, according to a statement on the bank’s website.
Banking in India is one of the largest industries in the world, with more than half of the country’s GDP generated by banks and more than 40% of the workforce.
In India, many of the banks are state-owned, which means the financial sector is overseen by a government agency and therefore subject to stricter regulations than private companies.
Banks across the country have been grappling with depression and unemployment since 2008, when the global financial crisis hit, with some banks, including Bancor, struggling to meet customer withdrawals due to the crisis.