Our strategy approach seeks to drive operational efficiency and ensure strategic effectiveness. Operational efficiency is measured through business processes and strategic effectiveness through the successful implementation of programmes that challenge the Bank to be more relevant and effective in our ecosystem. This approach emphasises the need to balance running the business and changing the business.

To prioritise key areas of work and drive the required change, four strategic focus areas were identified. The focus areas seek to address people dynamics, risk exposure, opportunities and process inefficiencies that were identified through the situational analysis.

The focus areas are as follows:

• Improve internal and external relationships
• Restructure the balance sheet and intensify the pursuit of operational efficiencies
• Transform the Bank into a dynamic and responsive organisation
• Position the Bank to thrive in the new normal powered by the 4th Industrial Revolution