MANAMA: Persistent acts of vandalism and violence have a negative impact on businesses, according to a seasoned banker.
Murad Ali Murad, Chairman BBK Board of Directors, on the sidelines of the BBK annual General Meeting (AGM) told The24X7News (www.twentyfoursevennews.com) that though the banking and financial sector bounced back in 2013, the acts of violence impact the overall climate of business.
“We need to see an end to the unfortunate events of 2011 and violence which had been taking place in a one form or other on a continuous basis. Businesses need a peaceful and friendly environment and we hope things will be much better in future,” Murad said.
About the expansion, BBK Chairman said the bank would open its fourth branch in India by third quarter of this year.
“Our 2013 results are a testament to the strength of our business model and the performance of our talented and dedicated employees. BBK certainly would never be able to achieve what it has in this year, or any other year, were it not for the commitment and hard work of its people. With a newly aligned Executive Management team and enhanced business framework, I am proud to say we are continuing on our journey of accomplishment, success and operational excellence,” Chairman said.
“The success in 2013 is a result of progress towards goals established in our 2013-2015 Strategic Plan. In line with the plan, we have developed our business across diverse revenue streams, further expanded our horizons in overseas endeavours and successfully implemented an organisation-wide restructuring programme while maintaining a high level of profitability and growth.”
“For the world economy it was another challenging year, with growth in many of the emerging markets continuing to slow, and demand in developed economies remaining subdued. However global economic activity gained momentum towards the end of 2013 and in more mature economies such as the Eurozone, the situation has stabilised with a positive move out of recession where austerity measures are paying off. Although fragile, the outlook continues to improve.”