Commercial Bank International (CBI) on Monday announced the launch of its five-year strategic plan, following an extensive exercise led by management consultancy experts and endorsed by the bank’s Board of Directors.
CBI’s new strategic plan provides an agenda to transform the bank to take full advantage of its strengths, re-position for future growth, and maximise business efficiency across all functions.
Kris Babicci, CBI’s chief executive officer, said: “Our strategy will turn up the heat on our competition and allow us to seize and grow market share. We have put our years of business expertise at work and have hired a management consultancy firm to conduct extensive research into the shaping of a solid business plan for the future of CBI, calibrating growth over the next five years.”
The bank’s new strategic focus will, in addition to the retail segment and large and medium-size companies, pay special attention to small and medium size enterprises in mid-cap segments.
“Our main business focus will be on mid market segments in retail, SME, and corporate through syndications. In fact, trade and syndications are major focus areas for the bank, where we are significantly leveraging on our strategic partnership with Qatar National Bank (QNB),” noted Babicci. “We are re-positioning for future growth. We will deliver improved returns by building on our strengths, concentrating on high growth areas, exiting marginal businesses and sharpening our focus on client needs and on building long-term relations with our customers.”
He added: “In the future, CBI will be stronger, better balanced and well positioned to deliver sustainable growth. In short, we are creating an agile bank that combines the highest standards of customer service and the finest aspects of a refined banking experience.”
“A proactive approach to customers is at the centre of CBI’s new strategy. As we move towards building profit-centered stability, and with all the potential offered to us by our strategic partnership with QNB, we realise that service quality, operational excellence, business efficiency, and long-term customer relations will be crucial to enhance and sharpen CBI’s competitive edge,” he noted.
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