People’s Bank unveils MTI-enabled strategic plan for future growth
View(s):The management of People’s Bank recently presented its 5-year strategic plan for future growth to over 1000 head office and branch network professionals, from different levels of the organization. The plan ‘SP 16/20′ was formulated by MTI Consultants, in close collaboration with the staff of People’s Bank, the bank said. The plan is based on MTI’s internationally acclaimed8S® Model and outlines key strategic initiatives that will help People’s Bank achieve its 2020 profitability targets and secure its position as the undisputed market leader in the financial services sector.
“Over the next five years, People’s Bank will continue to remain dedicated to empowering the people of Sri Lanka and as part of its mission the bank will continue to serve and meet the needs of its stakeholders including customers, owners, employees and society at large,” the bank media release said.At the presentation ceremony, Hilmy Cader – CEO, MTI Consultants officially handed over the first copy of ‘SP 16/20′ to Hemasiri Fernando – Chairman of People’s Bank.
As part of the new strategy, the bank will move towards electronic and lifestyle based channels and will strive to enhance its service culture and branch ergonomics. Several customer-centric initiatives have also been identified to help People’s Bank reach a wider range of high-end customers, whilst maintaining its current customer base. Additionally the bank will also explore other funding opportunities and will consider expanding its international footprint in high potential markets. The bank has also begun its paperless banking journey and will focus on offering revolutionary new green banking solutions throughout its operations, the release said.
Commenting on the plan, Mr.Fernando – said, “Our new strategic approach will enable us to solidify our position as Sri Lanka’s undisputed market leader in the financial services industry and in preparation for the future; we will also focus on transitioning into the most digitalized and technologically advanced bank in the country”.