1. Two main external drivers for the bank’s strategy for the next three years are:
- satisfaction of customer demands by (a) providing high quality services, (b) incorporating new banking services, (c) implementing retention mechanisms for current clients, and (d) gaining market share in all the bank’s products and services;
- investment in state-of-the-art technology. For example, Banco Bisa will be the first Bolivian bank to implement a CRM system.
These two drivers will make it possible for the bank to maintain its leading position in the Bolivian financial system.
2. Social, political, and economic problems in Bolivia during October 2003 led to the deterioration of the country’s image and international credit rating. This situation has had and will affect both foreign direct investment and domestic investment. In addition, the economic crisis of the past five years has not been resolved, bringing worrying consequences, such as lack of job opportunities or less private and public investment. There may be a contagion effect on Bolivia’s neighbouring countries if the internal social upheaval is not adequately managed and resolved by means of a substantial increase in employment; investment in education, health and social infrastructure; support to the Bolivian depressed private sector; and implementation of important political initiatives by Congress.