News on the house of Saradar

ENAR

Over the past three to four years, Saradar Bank was being developed as a universal bank with a full range of services in corporate, private, and retail banking. The process was aimed at engineering one differentiated banking entity out of two smaller banks, Near East Commercial Bank and Banque de l’Industrie et du Travail. Although, or perhaps because the procedure entails the creation of a new three-to-five year vision and strategy (implementation of which is currently ongoing) on top of the refurbishment of the bank’s brand and network, since 2016 Saradar Bank had been anything but forthcoming with information about its state of affairs and plans for further development. Until now. “By end of 2017, we grew our assets by 26 percent versus a market [growth] of 6 percent and our deposits grew by 26 percent versus a market [growth] of 3.5 percent. Also, at the end of 2017 we