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Coopbank Set off New Strategy
Toward realization of its vision “To be the leading private bank in Ethiopia by 2025”, Coopbank has recently set off a new strategy.
Obbo Deribe Asfaw, President of the bank says that the last strategy period (2016-2020) laid a strong foundation for the bank’s journey towards its set vision.
According to the President, the new strategy which is planned to be implemented soon will not only hugely transform the bank, but also mobilizes the resources to move the country’s economy forward.
According to the bank’s president, another issue that the bank will focus on in this new strategic era is the creation of fixed asset. Amongst many, it is planned to start the construction of the bank’s head quarters next year in Finfinne and construction of several other buildings in major cities of the country, in particular.
On the other hand, “if, unexpectedly, a government’s economic policy introduces foreign financial institutions to the country’s financial market, the new strategy is said to help foresee the bank to move on track regardless of the expected stiff competition that follows. In line with this, the new strategy also takes into account the introduction of other local banks under formation and Islamic banks’ impact on Coopbank,” says Obbo Deribie.
He further adds, “another major focus of the strategy is an advancement of technological capability and the human resource development, which are believed to be the backbone in the advancement of the bank.
