International Bank of Azerbaijan starts to implement new strategy
BAKU, Azerbaijan, Oct. 28
By Eldar Janashvili – Trend:
The International Bank of Azerbaijan has started to implement a new strategy for its development, which will cover the period until 2022, chairman of the bank’s board Abbas Ibrahimov said in an interview with Trend.
“The main goals of the strategy are sustainable growth, stable financial position, high operational efficiency and the creation of a corporate governance system of relevant best practice,” Ibrahimov added.
“To achieve these goals, the International Bank of Azerbaijan intends to become one of the two biggest banks in the corporate and retail segments by key products, gain a big market share in financing small and medium-sized businesses, have the best digital experience and the Net Promoter Score (NPS) indicator in this segment, develop cashless payments and digital banking in the country, as well as become the best employer in the financial sector,” the chairman of the board said.
“As part of the approved new development strategy, the bank has developed a reliable and sustainable business model that is consistent with the macroeconomic situation and socio-economic development of the country,” Ibrahimov added.
Touching upon the privatization issues, the chairman stressed that at this stage, the mission of the bank’s management is to take measures to ensure the achievement of the objectives set within the strategic development, namely, maintain the financial stability and efficient activity, increase profitability, institutional development, ensure the competitive advantages and introduce the modern banking and information technologies, as well as increase the market value of the bank.
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