BMI Bank: Strategy, Growth and Challenges

Jamal Ali Al-Hazeem, CEO of BMI Bank, talks about BMI Bank. According to the CEO, BMI Bank should grow by at least 3% in 2013; though such figures are difficult to predict.

“Overall, I think BMI Bank will grow either within the market average or slightly above – on both sides of the balance sheet. Last year the market average was about 2.5 or 2.6% and we grew at a higher rate. This year I think it is estimated around 3% so I think BMI Bank will be able to grow by around 3% or slightly higher.” he says.

The strategy for BMI Bank is clear. The bank will continue, adds Al-Hazeem, ” to improve the quality of our assets. We’ll continue to take necessary provisions against any remaining non-performing loans and we’ll continue to make the effort to improve our performance in order to also improve our ratings. We plan to have profits on a quarterly basis and end the year with a profit. Also in our plan for 2013 is to pay dividends to our shareholders after a long time so let’s hope we can achieve that.”

Furthermore, Al-Hazeem discloses his views on the marketing strategy, the branding, the innovation, and the challenges that affect the growth of the bank.