The bank’s outperformance in 2007 was driven by cost control, prudent balance sheet management, targeted new business development, a focus on customer retention and strong risk management.
In addition to improving automation and streamlining processes, FCIB restructured and expanded customer servicing units across all its customer segments.
In the corporate bank, for example, FCIB has increased the use of market research and customer segmentation along with the development of targeted products and services in order to better meet the needs of specific client groups.
The wealth management segment was restructured into specialised teams to provide a broad range of new services, in addition to consolidating domestic and international wealth management under one roof.
FCIB’s treasury function has been transformed from a support function to a fully fledged strategic business unit with a mandate for expanded customer engagement with high-level sales capability.
Two major technology platform migrations – in credit cards and treasury – support these organisational changes, and position the bank to expand its product and service offerings at the same time as increasing efficiency.
