Economy, Business And Markets

Saderat Announces Strategic Plan

Saderat Announces Strategic Plan Saderat Announces Strategic Plan

Bank Saderat unveiled its three-year strategic plan to better its position in Iran’s money market on Thursday. The plan’s announcement got attention from state media as Saderat is the largest lender listed in Tehran Stock Exchange. Saderat’s shares were unaffected by the publicity stunt, dropping 0.9% to 885 rials by Thursday’s close. The Tehran-based lender’s head of public relations insisted that the plan is both comprehensive and practical—unlike most long-term strategic plans drafted by companies and the government—as it accounts for the bank’s available expertise. “The drafted plan seeks to raise profitability, diversify banking services, increase share of the money market while improving supervision and human resources,” Esmaeil Karimian said. “We expect the bank to become more agile and offer better services after the implementation of the plan.”