CBI Partners with BCG to develop five-year strategic plan
Saturday, October 19, 2013
Commercial Bank International (CBI) has announced a signing with a leading global management consulting firm, The Boston Consulting Group (BCG), to prepare a five-year strategic plan. BCG will act as advisor on the development of the Bank’s business strategy in a project that is due to be finalized by the end of 2013.
Kris Babicci, CBI CEO
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 capitalize on available opportunities across business lines. 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.
Commenting on the partnership, 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.
CBI’s consistent drive to be at the forefront of customer service improvement and convenience builds on their recent success at the Banker Middle East Industry Award Ceremony, where they received recognition for being the Most Improved Bank in the MENA region and the Fastest Growing Bank in the UAE.
The Boston Consulting Group partners with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses. Founded in 1963, BCG is a private company with 78 offices in 43 countries.
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