Saderat Bank’s promising path is supported by the Ministry of Economy

​According to the report of financial news, the deputy of bank affairs, insurance and state-owned companies of the Ministry of Economic Affairs and Finance, in a meeting with the CEO and members of the board of directors and the board of directors of Bank Saderat Iran, while appreciating the actions of the bank’s new management team, the need to plan for the future of the bank in 10 years. He mentioned the future and said: We will support Bank Saderat Iran in the path of capital increase and its promising conditions.

Mohammad Javad Sharifzadeh in this meeting, which was held in the presence of the Director General of the Banking and Insurance Affairs Office of the Ministry of Economic Affairs and Finance and the experts of this office, among the senior managers of Saderat Bank of Iran, stating that the pressure on the banking system is very high and the workload is very high. He emphasized: Our policy is to support the banking system. Banks are under a lot of pressure, and if there is any fault on the part of the banks, its amount is minimal.

Recalling that Bank Saderat Iran was sanctioned in the first bank sanctions, he added: “If the enemy is focusing on a specific place to hit our economy, we should know that that is our strength.”

Sharifzadeh said: Saderat Bank of Iran is one of the few banks that is rising and its conditions are promising. Although the capital increase in the bank was not done for many years, we have supported the capital increase and will continue to support it from now on.

Deputy Minister of Economy said: “Selling surplus assets and properties of banks is desired and we should sell surplus properties of banks.” Also, good efforts have been made in the field of collecting foreign currency claims and liquidity management, and if proper management was not done, the amount of overdraft would have reached a large extent. If Bank Saderat Iran is damaged today, it is because the managers of the last 10 to 15 years did not have a vision.

He added: A future research department should be formed in the bank and plan for the future of the bank and its portfolio. Several factors should be considered for planning. The first factor is the problem of human resources. The recruited manpower must be elite manpower. Elites should be identified and recruited from good universities. Elitism guarantees the future of the bank.

He also paid attention to the banking model and said: planning should be done on what the banking model of Saderat Bank of Iran will be like in the next 10 years. A distinct product and a distinct field of work should be drawn for the bank in the future.

The product committee was one of the other categories mentioned by the Deputy Minister of Economy as an important factor for the planning of the big bank.

He added: More time should be considered in the field of facility products, deposits and other matters.

The deputy of banking, insurance and state-owned companies affairs of the Ministry of Economic Affairs and Finance also mentioned the digital transformation in Bank Saderat Iran and emphasized on optimizing and making foreign branches of Bank Saderat Iran profitable and complying with credit health and strengthening the internal control system as well as handling He called for an internal audit.

Saying that the number of Iran Export Bank branches is more than the number of employees of some banks, Sharifzadeh said: Iran Export Bank is a big bank and the source of great services, it has great capacities and naturally its problems are also bigger. Therefore, internal controls should be considered with greater strength.

In this meeting, the CEO of Saderat Bank of Iran explained the bank’s conditions and future goals, discussed the successful measures taken in recent months and listed the problems and defects of the bank’s financial structure as one of the most important management challenges and added: the issue of increasing the bank’s capital is the most important. The bank’s concern in this sector was that with the support of the government and a group of colleagues, we have moved from an unfavorable situation to recovery in the past three months and we have been able to start the process of capital increase by spending shares and the method of revocation of pre-emptive rights of shares with 40 thousand billion Rials. The general assembly of capital increase was also held, and with the opening of the symbol on Saturday, the process will accelerate.

Mohsen Seifi added: The effort is to finalize the capital increase from the surplus of assets revaluation and reform of the bank’s financial structures in the remaining months of the year.

In this meeting, the CEO of Saderat Bank of Iran also called the issue of the bank’s dissatisfaction as another problem of the bank and added: the pressure of the government to withdraw the government resources of the bank was one of the other problems of the bank, despite the withdrawal of many resources from the bank, the largest growth of the bank’s resources in the last three months was by Saderat Bank of Iran has been established, and in this direction, the movement from expensive sources to cheap sources has gained more momentum. To reform the financial structures, the focus is on attracting low-cost resources, and in the last three months, we have seen an 80% growth in the plans that led to the growth of low-cost resources.

He listed the existence of serious problems in the field of information technology infrastructure as one of the other problems of the bank’s past and said: “Many efforts were made to develop the bank’s infrastructure and increase the bank’s processing power, and we are in the process of purchasing some other infrastructure needs of the bank to increase the bank’s processing power to be even more. In this regard, several platforms are being implemented at the same time, including Neobank, which solves the problems of other bank software, while the electronic asset verification software with the brand name “Set” is also the first bank in Saderat Bank of Iran. It was launched and won the first place in the Dr. Noorbakhsh Festival of the 10th Electronic Banking Conference of the Central Bank and was recognized as the best product.

Referring to the bank’s investment department, Seifi also said: the biggest auction of the bank’s properties will be held and almost all of the bank’s surplus properties have been offered in this auction. In addition, a part of the surplus shares of the bank has been sold, which has resulted in a significant growth in this field.

He informed about the collection of claims of foreign branches of the bank in the last three months and said: “This year, we have grown more than 300% in the collection of claims abroad, and we are trying to increase this amount to 400% by the end of the year.”

Saifi also stated the upcoming measures to strengthen internal controls and said: In the new structure, we do not have a director of supervisory affairs, and based on the decisions of the board of directors, we have changed the bank’s supervisory model and its rulings have been issued.

Regarding the development of the bank’s products, the CEO of Saderat Bank of Iran also added: strengthening the bank’s international sector with the participation of some other banks and synergy in the banking system abroad is on the agenda. The new business model of banking products abroad is being finalized.

Referring to the fact that more than 10 new products have been presented in Saderat Bank of Iran since 1401, Seifi said: A future research unit will be launched in Saderat Bank of Iran and 50 new employees will be recruited for the information technology department, as well as speeding up the process of digital transformation. It is seriously on the agenda.

The CEO of Saderat Bank of Iran called the quality of the bank’s subsidiary companies and their management as important and said: “The bank’s policy is to exit from business and we are trying to exit from a company that is not productive and does not have an advantage for the bank.”

Referring to the development of a protocol for a comprehensive visit to the provinces, Seifi said: every 15 days, the bank’s board of directors and the board of directors will visit one of the provincial centers of the country, and during these provincial trips, all the bank’s branches in each province will be visited by the bank’s senior managers.

In this meeting, Yaser Moradi, the executive member of Saderat Bank of Iran, presented a detailed report on the problems and concerns of the bank’s demands from the government, Mizan and Padideh Shandiz Institute and the legal problems arising from them, and also made suggestions to solve these problems.

In this meeting, a report on the general situation and performance indicators of Saderat Bank of Iran was also presented by the vice president of plans and programs.