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Feb 07 2012

BankDhofar, BCG sign pact to devise strategy

MUSCAT: BankDhofar has partnered with the Boston Consulting Group (BCG), a leading global management consulting firm, to develop its strategy for the future.

The bank's current five-year strategic plan, which commenced in 2008, is due to conclude this year, and has resulted in BankDhofar reaching the top of the banking sector, winning several prestigious awards and being named the 'Best Bank' in Oman.

The bank is now preparing for further business growth and sustainability which will be implemented through its strategic plan for 2013-2018.

Growth and sustainability
Tony Mahoney, chief executive of BankDhofar, said: "It is now time for us to look at our next strategy and we are extremely excited to have partnered with BCG to develop the process. We have in the past four years worked through a strategy plan which was based on growth and sustainability."

"Now, as we look to the future, we are ready to develop and implement our new strategic plan 2013 -2018 which will give us a fresh perspective and direction.

The strategic plan will cover major business units including retail banking and whole sale banking. It will focus on profitable growth, while improving service, quality and operations of the bank overall," he added.

The Boston Consulting Group (BCG) is a global management consulting firm and the world's leading advisor on business strategy.

It 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, Boston Consulting Group is a private company with 74 offices in 42 countries.

Boston Consulting Group serves the Middle East from Abu Dhabi and Dubai, in conjunction with the Boston Consulting Group office in Casablanca, play a key role in serving clients in the rapidly developing Gulf regions as well as Middle East North Africa (Mena).

© Times of Oman 2012

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