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Industry: Retail Bank
Industry: Retail Bank
The Situation:

  • Bank serves closed population and therefore is limited in new client procurement
  • No comprehensive strategy in place despite extremely rapid growth over prior ten years
  • High employee turnover and low morale
The Intervention:

  1. Executive team off-site—5 days to develop 30 year vision, five year goals, strategy map, core values
  2. Executive message development with CEO to launch new vision and strategy
  3. Strategic intent to diversify product lines and expand into full financial service provider
  4. Strategy scorecard developed with metrics for all parameters
  5. Retraining of all employees in strategy map, core values and skills expansion
  6. IPO planned for three years out
Results:

  • IPO complete
  • Strategy successfully underway
  • Over 50 new products/services launched
  • Market penetration only up 2%, but total accounts up 390%
  • 6 new branches opened
  • Co-owned banks opened in remote markets (international)
  • Employee morale improved, turnover reduced by intended amount
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