The Financial and Economic Deputy of Bank Shahr said: ‘Focusing on five strategic areas of profitability, market share, optimal management of expenses and receivables, raising the level of income and promoting electronic banking and relying on the strategy of moving towards professional banking, Bank Shahr management team has focused all efforts on attracting cheap resources, reducing claims and profitability’.
According to Bank Shahr Communication and Public Relations Center, Rasoul Khoshbin stated: ‘The current board of directors of Bank Shahr has accepted the responsibility of the bank in conditions that it has been deprived of the services of many of its intellectuals due to the extension of the law prohibiting the employment of retirees in the bank. However, fortunately, given that Bank Shahr is a young and reputable bank, it was able to move quickly away from traditional banking with a defined policy to advance the goals of professional banking.
‘In this regard, and in order to achieve profitability, we considered professional banking as a policy to satisfy customers and shareholders and fulfill their demands, so that we can reduce the existing accumulated losses and increase the market share by paying appropriate interest to customers’, he continued.
Khoshbin by stating that the current focus of Bank Shahr is on increasing non-shared income clarified ‘This goal will be achieved through the total income from fees, currency exchanges and other activities so that a balance is created the amount of deposit attraction and the paid interest. Besides, if this balance is not formed in any banks for any reason, the interest paid will be greater than the amount of deposits attracted and will lead the bank to a loss.’
The financial and Economic Deputy of Bank Shahr said: ‘In addition, one of the ways to increase income in Bank Shahr is to provide facilities, and we were able to improve the income of the bank by creating obligations, letter of guarantees and providing Letter of Credits.’