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‘Saman’s profitability based on strategies’

Jul 1, 2019 11:00 AM Date

Latest CODAL (Comprehensive Database of All Listed Companies) reports indicate that Saman has hit profit-making record with a 1480-percent growth and its earnings per share (EPS) has reached 632 Rials last year.

Ali Reza Marefat, CEO deputy of Saman Bank, underlined that the achievement has been result of a new plan the research phase of which was launched two years ago based on domestic and international experiences. The new set of strategies, dubbed Saman 1400 (Iranian calendar year, coinciding 2021), was then approved by board of directors and its implementation began about one year ago as the bank’s key plan, he said.

 

“based on the plan and precise directorship of bank officials as well as good cooperation between branches and headquarters, positive outcomes occurred just during first months making us more resolved in pursuing the strategies,” Mr. Marefat emphasized.

 

He added “Saman 1400” has helped the bank to cut the costs of banking operations and interest income-related expenses, while helping to increase sale, interest income and non-interest income; “this would lead to stability and maintenance of earnings in future.”

 

Mr. Marefat described promotion of quality and diversity of services as two indices of new plan saying development of most of remote and electronic-based services has been due to these factors.

 

Saman’s Financing and Planning Deputy Ehsan Torkaman also made comments in this regard, underlining that the policy adopted by Central Bank of Iran on exchange rate created an ample opportunity for reinforcing the banking system and increasing the investment in the system; “Saman would seize the opportunity to strengthen bank’s investment and develop international operations particularly launching foreign branches.”

He noted that Saman Bank has made a net profit of 5.056 billion Rials till the end of last Iranian financial year (ending 20 March, 2019), which would continue during coming years regarding the significance Saman applies to pursuing its plans and goals in two years. The plans all based on newest methods of sale, providing services and products as well as management of resources, assets and demands, he concluded.

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