AK BARS Bank approved the Development Strategy for 2017-2021

On December 21st, 2016 the Board of Directors of AK BARS Bank has accepted the development strategy for 2017-2021.

In course of generation of growth and development strategy, shareholders and management considered following:

  • moderate level of growth of lending market within 5-6% per year;
  • the extension of regulatory actions on strengthening the control for the financing activity;
  • brisk growth of non-bank financial service companies. These are technological and telecommunication as well as fintech industry companies which influence will continue to grow.

Key vector of development of AK BARS Bank is to become advanced, digital, customer-centric, effective and collaborating financial institution. The strategy involves substantial growth of the Bank’s business scale, development of IT platforms, risk management evolvement and a wide range of new digital services.

AK BARS Bank will implement gradual transformation of business model into transactional and credit-linked model.

The Bank will focus on working with micro and small businesses as well as with medium-sized and large companies. In retail the Bank will offer new convenient products and services for schoolchildren, students, economically active people, aged generation and also for prime customers.

This business model will be based to a greater extent on continuously improving customer service, providing customers with operational solutions on their financial and non-financial business tasks, transformation of accumulated block of big data into information asset. This change will enable AK BARS Bank to improve significantly the stability in a long-term prospective and increase overall profitability of the Bank. The Bank plans to develop new formats of interaction with customers on the basis of digital channels, marketplaces and electronic commerce.

One of the most important elements of the strategy is customer being in the center of business focus — this is the essence of the Bank’s customer-centric approach. Understanding and offering the ways of the customer’s tasks solving is the basis of the modern bank.

Mission of AK BARS Bank defined as follows: «Today and always we offer an opportunity for pursuing a goal of our customers and partners». The content of mission reflects the fact that the Bank acts proactively and always provides a variety of opportunities for business development and capital funds accrual of our partners and customers. The Bank is making every effort to anticipate their business objectives and provide them with stability and assurance today and tomorrow.

Vision of the Bank: «The bank, which is constantly striving for excellence together with customers and partners». This vision statement reflects the willingness of the Bank so as cooperation with customers is valuable upon both parties. The Bank will make every effort so that this value grows and develops. Striving for continual improvement is critical regarding the Bank’s relations with its partners and customers being the basis of a joint long-term development.

Within the framework of the approved strategy, the Bank aims to achieve the following indicators:

  • Twofold asset growth in 2021 (as of the current date, the Bank’s assets make RUB 450 bln.) assuring the Bank’s entry to the «A League» among the TOP 15 largest Russian financial institutions by assets.
  • The increase in net profit more than 10 times;
  • The growth of return on assets (ROA) up to 1,5%;1
  • The increase of retail and corporate customers more than 2.5 times;
  • Recognition as one of the best employers in the Republic of Tatarstan and one of the leaders in Russia in finance and technology, and also the formation of effective and cohesive team.

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