Qatar
Barwa Bank maps out course for future growth
Barwa Bank maps out course for future growth
Barwa Bank’s “future plans for sustained growth” have been presented before the new board members by the executive management. |
The meeting chaired by Barwa Bank chairman and managing director Sheikh Mohamed bin Hamad bin Jassim al-Thani followed the election of its new board members for 2013-15 at the bank’s AGM held in April.
Sheikh Mohamed said: “Through this meeting we wanted to demonstrate to the newly appointed board members what we have achieved in the past years, and what the executive management is planning for future. Open communication with, and continuous support from, the board of directors to the executive management are key ingredients of successful organisations. We are determined to take full advantage of the expertise of the board of directors to provide support and guidance to the executive management in maintaining sustained growth and the achievement of the best outcomes for shareholders and customers alike.”
He expressed sincere thanks to the previous members of the board for their contribution to the bank. Sheikh Mohamed also welcomed the new board members and expressed his belief that they will invest their energy and experience in both supporting future growth plans and business promotion.
Chaired by Chief Executive Officer Steve Troop, the executive management team provided a summary of the structure of the group and the plans pursued by the executive management to achieve integration between all the components of the group, including Barwa Bank, The First Investor- the investment banking arm of the Barwa Bank Group, First Finance Company, a leading consumer finance company in Qatar and First Leasing Company, a specialist leasing unit.
Troop also spoke about future plans and the prospects for overall group expansion.
Troop said: “One of the many reasons for our success over the past three years has been strong alignment between the executive management team and the board of directors, enabling us to take decisions quickly and respond to customer needs efficiently, in turn promoting a very positive relationship. The aim of this meeting is to preserve this formula in order to continue to achieve further growth and value.”
During the meeting, the chief executives of First Investor, First Finance and First Leasing and the directors of the various departments in the bank made brief presentations about their departments’ roles and companies covering retail banking, corporate banking, banking services for small and medium enterprises, private banking, treasury management, investment, internal audit, risk management, compliance and operations.
They also explained how they contribute to the growth and development of Barwa Bank Group and briefed the board of directors about the products offered by their departments and development plans carried out by the group in order to continue to lead the Qatari banking sector in terms of growth rates and product diversity.