OUR STRATEGIC FRAMEWORK

The Bank’s strategic agenda spanning up to year 2020 is articulated in “Transform 2020” - a cohesive and ambitious strategy designed to transform the Bank to a large, systemically important bank. The strategy was launched in mid 2017, with much of the groundwork carried out up to mid 2017, along with the professional input of the International Finance Corporation (IFC).The transformation involves a wide span of changes including the business focus, business processes, organizational structure, employee mindset and culture.

Transformation 2020

Governance and Risk Management

Prior to the implementation of Transformation 2020, the Bank was guided by a 5-year strategy which was initiated in 2013. Changes in the operating landscape and our own strategic aspirations compelled us to revisit this strategy in 2017.Transformation 2020 was developed and implemented to equip the Bank with a time validated and futuristic strategy, which was more in line with the Bank’s revised ambitions and prevailing market conditions.

STRATEGY IMPLEMENTATION

The Bank aims to achieve a set of key financial targets by 2020, in order to achieve the overall goal of Transformation 2020. The execution of the strategy is structured in a number of key work streams in identified areas for improvement including business transformation, credit re-engineering, noncredit re-engineering, marketing and customer management, HR strategy and Group synergy. Seamless execution is identified as crucial for the success of the strategy. Two aspects of the execution are identified as follows;

Technical Execution

The first is the technical aspect of execution such as collaboration across various work streams, systems and processes, follow up mechanisms, status reviews, identification of risks and risk avoidance, remedial actions to minimize the impact of materialized risks, crisis management, etc. related to the strategy. A dedicated Project Management Office under the leadership of a senior Vice President of the Bank is in place, to provide administrative, operational, advisory, and strategic and governance support in implementing the transformation strategy from this technical aspect.

Organizational Change Management

The second aspect of successful execution is the human aspect. It is critical that employees of the organization are effectively guided through the change process. The Bank has established a dedicated function for Organizational Change Management (OCM) for this purpose.

OCM ensures that all the staff members of the Bank understand, adapt and support the change that the Bank is undergoing under the strategy. Employee engagement, raising awareness, focused communications, elimination of fear or resistance to change, and unifying the staff members as one team are priority initiatives of OCM. Employees are embedded in to the transformation that is taking place through a gradual process, by promoting some of the core aspects of successful change, namely, inspiration, cocreation, transparency, clarity, visual alignment, action and harmony.

There are continuous programmes carried out as well, to enhance the skill levels of the employees to embrace change and deliver results.

The Bank invigorated its culture dubbed as One NDB, in further unifying and aligning the Bank's employees towards the overall goals set under the Transformation 2020 strategy.