CBI partners with BCG to develop five-year plan [CPI Financial]
(CPI Financial Via Acquire Media NewsEdge) Commercial Bank International (CBI) has announced a signing with The Boston Consulting Group (BCG), to prepare a five-year plan.
BCG will act as advisor on the development of the bank's business strategy in a project that is due to be finalised by the end of 2013.
"The project will be driven by BCG, leveraging its extensive hands-on experience, analytics and tools to help CBI develop its five-year business strategy. BCG will bring to bear advanced factbases, market trends and best practices to enable CBI to capitalise on available opportunities across business lines," said a media statement. "BCG will work closely with the management team to ensure acceptance and subsequent implementation of the strategy. The strategic plan will cover all business units including Retail Banking, Corporate Banking, SME and Treasury."
CBI's Chief Executive Officer, Kris Babicci said, "It is time for CBI to develop our next strategy and we are extremely excited to have partnered with BCG to do so. The outcome will provide a clear direction; a vision and a mission for the Bank, identifying the strategy that will make us achieve our aspirations for the next five years."
"CBI is a key player in the local banking sector, and we see great potential for the bank to further develop its capabilities. The bank is on a good trajectory with an experienced management team and well-placed strategic partners in the region. By developing and implementing the correct strategy, CBI has the potential of becoming a major industry player in the UAE within five years, and we are pleased to support them in their efforts to achieve these goals," commented Ganesh Mohan, Partner & Managing Director - BCG Dubai.
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