The mechanism of corporate management of the banking sector works clearly even in cases of force major - V. Mudryi
A full-scale war as the biggest force major proved that the mechanism of corporate management of the banking industry built in Ukraine works quite clearly under any conditions. Despite threats, blackouts and shelling, all banks have persevered and their business models have demonstrated their viability. Volodymyr Mudryi, chairman of the board of OTP BANK JSC, said this during the VII International Forum of Corporate Directors in Kyiv.
“A lot has changed, for example, strategic planning itself is sometimes ineffective due to the rapid flow of events. The role of the committees has changed: if before the great war, tariff and credit were decisive, then after it began - ERG (emergency response group) and liquidity and capital management”, - he noted.
During the speech, he recalled the quote of USA President Dwight Eisenhower: "plans are nothing, planning is everything". "Despite the uncertainty, managers must consider different, even the worst, scenarios and plan the course of action for different circumstances, even if these circumstances never arise," - the CEO of the Bank emphasized. At the same time, he added that managers should remain optimistic and look at crises as opportunities.
"Open communication is the best pill in times of crisis for CEOs. It should be an honest and direct conversation not only with clients, but also with the team, which is extremely important, because it is people who make business," - V.Mudryi emphasized.
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Public Joint Stock Company OTP Bank is a subsidiary of OTP Bank, which is the largest independent Central-Eastern-European banking group. JSC OTP Bank is one of the largest domestic banks, a recognized leader in the financial sector of Ukraine. The Bank provides a full range of financial services to corporate and private customers, as well as to small and medium enterprises. The bank entered the Ukrainian market in 1998, and since then it enjoys a staunch reputation of socially responsible, reliable and stable institution providing its consumers with services of European quality standard.
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