February 1, 2023

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Comprehensive development in strategic contents paves the way to success in the bank: BMI head

TEHRAN- Ablfazl Najarzadeh, head of Bank Melli of Bank of Iran, stressed the importance of developments in the bank’s strategic approaches and said that bank will achieve significant results when plans and six-strategic contents are implemented.

Najarzadeh who was making the remarks in a seminar about evaluating the nine-month performance of the bank’s units during the current Iranian year (starting from March 21 2022), in the presence of bank’s officials thanked those units which have been able to perform efficiently toward the fulfillment of the bank’s goals since the start of this year.

Najarazadeh also pointed to the existing weaknesses and problems and announced bank’s most important strategies and policies till the end of the year as well as the next year.

Attention to strategic contents makes evolution possible

The head of the bank also said “we expect our colleagues across the country to promote bank’s positon among other banks by implementing the new strategic approaches, complying with the set instructions and respecting customers.”

Najarzadeh emphasized the importance of goal setting and planning as the most important and fundamental pillars of the development and success, adding, with a change in approach from “staff to line”, development would become possible.

On the Road to Success

The newly assigned head of bank Melli continued to say that the weaknesses and strengths of the plans must be identified, and called for senior managers to monitor the performance of the bank’s units next year by establishing a new framework based on the available strategies. He further asked the departments of the provincial branches to review and evaluate their performance based on the bank’s strategies every season.

Najarzadeh indicated that bank’s activities are based on Central Bank’s policies and added that all the bank’s goals and policies should be based on the bank’s strategic framework.

The development of E-banking is a necessity

The bank’s official stressed on the fundamental implementingof the management of resources and expenses, attracting new resources, increasing capital, generating frozen assets, implementing comprehensive banking, creating digital transformation, developing international sector including international and foreign trade services and developing human capital in the bank.

Stating that Melli Bank should be a leader and pioneer in the banking network in technology and digital banking, Najarzadeh added the new banking products and technological tools should provide the ground for the superiority and distinction of BMI compared with other banks.

Bank is responsible to create economic enterprises

Somewhere else in his remarks, Najarzadeh underscored that bank’s duty is to develope economic enterprises not owning them and added that one of the bank’s priorities in the current year is to exit the business ownership and selling and handing over its surplus and fixed assets.

Dr. Najarzadeh pointed to the ongoing competitive conditions for banks and the development of banking science and industry and emphasized that it is necessary for BMI to move towards comprehensive banking.

Double efforts to increase market share

Najarzadeh emphasized that the increase in bank share in all banking system indicators is important and added that shortages and problems must be solved by continuous monitoring.

He again stressed the development of the international sector and foreign trade services as well as human capital.

The head of BMI highlighted the need for planning to provide proper service to customers and announced that “38 strategic plans have been drafted in BMI which pave the way for transformation.”

Customer satisfaction possible with the development of bank of entrepreneurs

Referring to the role played by bank of entrepreneurs (Kaargoshaei Bank) in providing micro services across the country, Najarzadeh added that the establishment and announcement of rules should be in line with improving the quality and the speed of services provided by bank of entrepreneurs.

Najarzadeh said that the root causes of the weakness and strength of the units should be identified as soon as possible and at end asked his colleagues to work hard to achieve bank’s goals and policies based on the existing strategic plans.

The bank units’ performances were reviewed during this seminar by deputy department for planning and transformation and their performance report was presented.

Realization of the strategy contents is very necessary

Mohammad Shirijian, a board member and Vice President for Planning and Transformation of BMI, also extended his thanks to those units that have had a good performance during the 9 months of this year and emphasized the necessity of maximum efforts to achieve the six-content of the bank’s strategy and long-term goals.

Shirijian said that a coherent road map for the bank’s effective movement this year has been designed, and stressed that everyone should participate in the practicing strategic plans and implementing strategic contents to obtain new achievements.

He considered cutting losses and increasing market share as bank units’ performance evaluation indicators, and added that there would be a good progress in all sectors if bank’s goals are materialized.

He explained the goals and strategies of the bank and discussed with managers about their issues and questions.

A working group was also formed with the presence of the head of the BMI, the chairman and the board members of the BMI during which the bank’s senior managers raised the problems and related issues they faced from “staff to line” while the top officials provided them with the necessary solutions.

In this working group, customer-friendly attitude , managing and attracting resources, increasing market share, transparency, implementing a centralized system for extracting and calculating financial statements, implementing the government approvals for provinces, paying agricultural loans, implementing credit card management system, provision of micro- services  in the form of loan, payment of housing loan, provision of undertaking method, revision of budgeting, development of international relations and better products were discussed and considered the main ways for the evolution of the bank.

During the conference, some of the managers of the branches presented a report on the performance of the subordinate units and continued to express and propose their views on the bank’s issues.

The conference ended with introducing the departments of Khuzestan, Alborz and Zanjan branches as well as independent branches of Haj and Ziarat, Central and Securities and Exchange with the best performance over the past 9 months.

Original News : https://www.tehrantimes.com/news/481116/Comprehensive-development-in-strategic-contents-paves-the-way

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