Most modern banks have their own specific, specific missions. Thanks to the mission, the bank conveys to customers its main goal in the economic market. And the more interesting, actual and original the mission will sound, the more loyal will be the attitude of clients to a credit institution, the more loyal a client is, the more likely it will be to acquire a banking service. The mission of one bank sounds concise and bold, for another it is voluminous and consistent, but they are all designed to convey to us some thought that will respond somewhere deep inside and cause positive emotions.
Goal goals
So what is the main purpose of the bank?
The mission of the bank is the highest, most important and main goal of the bank, the goal of goals, capable of expressing in a few words the strategy and meaning of the very existence of a credit organization as such.
A bank is a credit institution, the purpose of which is to make a profit, all of its economic processes are focused on this, but the mission is a certain more philosophical understanding by this organization of the meaning of its existence, the very essence of being. A mission is an intangible asset that should help increase the bank’s competitiveness and lead to the main result - increased profits.
Features of creating a mission
Each organization, and especially credit, should have its own development strategy, which should be carefully planned. Mission is the starting point of this strategy.
The bank answers the questions:
- What are we?
- What are we on the market for?
- What do we want to give our customers?
- In what direction is our development going?
- What organization do we ultimately want to become?
The goals of the bank’s mission are to succinctly but substantively answer these questions. Then, on the basis of the mission, abstracts are developed, and then the main development strategy of the bank.
Consider what aspects should be addressed in the mission of the bank:
- The main direction of development and activities of the bank.
- A characteristic difference from other banks, a spectacular feature that distinguishes a specific bank from competitors.
- The category of clients on which emphasis is placed, their needs.
- Bank contribution to the public good.
Mission of the Central Bank
As you know, in Russia there is a two-tier banking system consisting of the Central Bank of Russia and commercial banks (and other credit organizations). The Central Bank of Russia, the “bank of banks”, acts as the main financial regulator of the country's economy, in addition to issuing money supply, it monitors the activities of all credit organizations, issues / revokes licenses to commercial banks, provides them with loans and performs a number of important functions.
Ensuring financial and price stability, promoting the development of a competitive financial market.
This is the mission of the Bank of Russia.
The global and large-scale work of the country's main bank in the economic market reflects its very concise mission. Indeed, the role of the Central Bank in our country is not to make a profit, it sets itself the super task - the development of the Russian economy as a whole.
Purpose of the goals of a commercial bank
The most important difference between commercial credit organizations is the desire to stand out among competitors. If the country's main economic regulator is out of competition, the situation with commercial banks is different. They provide clients with approximately the same range of services, so strategic development managers have to smash their heads so that a particular bank can stand out in the economic market thanks to an interesting mission.
The mission of a commercial bank is the highest, most important and main goal of the organization in the economic market, the goal of goals, capable of expressing in a few words the strategy and meaning of the very existence of a credit organization as such, effectively distinguishing this institution from competitors. A variety of lending institutions implies a variety of missions. Let's pay attention to the missions of some banks.
Mission of Alfa Bank
Alfa-Bank is the largest Russian bank, founded in 1990 and operating to this day, it provides all major types of services.
Mission of Alfa-Bank:
We believe that freedom is a key value of modern man. By combining caring people, their experience and energy, we help you to be free in actions and dreams.
This bank focuses on the highest value - freedom. It is captivating. In fact, a person always strives for freedom, in the material world or in the spiritual, he longs for independence. And here a commercial bank - an organization whose whole purpose of existence is to maximize profits, sets for itself a super task, the mission is to help its customers be free. Yes, the approach is more philosophical than economic, but certainly a win-win. It is also important that the credit institution affects the future of the client, gives everything you need now and then, "in deeds and dreams."
For reference: the mission of this bank can be viewed on the official website of the organization. On the main page of the site you need to go down and click on the inscription "About the bank".
Mission of VTB Bank
VTB Bank is part of the largest holding company called VTB Group. This includes; VTB Bank, VTB Insurance, VTB Capital, NPF VTB Pension Fund, VTB Leasing, etc. The Bank is the second largest in Russia, rapidly developing and keeping pace with the times.
The mission of VTB Bank, or rather, a group of companies, is as follows:
We provide financial services of an international level to make the future of our customers, shareholders and society as a whole more secure.
The organization focuses on the quality of the services provided, because the "international level" implies a high-quality service. Also, a credit institution makes it clear that shareholders are as important to it as ordinary customers, and the bank aims to improve the life of society as a whole. The mission sounds “loud”, but not without reason, because just like that the company would not be the second largest and most popular in the country. The client, choosing VTB for himself, chooses an excellent service.
To read the mission and values of VTB Bank, you need to go to the official website of the organization, go to the "About the group" tab, select the line "Mission and values" under "VTB Group".
A little bit about values
Since the mission of the bank is better perceived by clients in a short form, credit organizations in order to state the super-task in full, in full, also indicate values. Values differ from the mission in a large amount of information, they cover all the most important aspects of the activity, without missing anything necessary. In other words, if it is desirable to “trim” the mission to the required format, that is, remove some important information about the credit institution, this should not be done in the values.
Values of a credit institution may be as follows:
- the desire to improve their activities, offering customers quality service;
- constant development, desire to keep up to date;
- the desire for social approval along with the desire for maximum profit;
- environmental friendliness of the bank;
- compliance with simple ethical standards;
- honest business, based on the legislation of the Russian Federation;
- careful attitude not only to existing and potential customers, but also to their employees, compliance with the norms of the Labor Code of the Russian Federation;
- the desire to make an imperfect world a little better, etc.
Thanks to the values stated by the clients, the bank receives additional loyalty, the more values are affected, the closer the institution will become its client, that is, will receive more profit.
Conclusion
Summing up, I would like to note that the mission of the bank should be very well thought out, a lot of attention should be paid to this. If the mission is very narrow, the bank runs the risk of missing a certain part of the market, which will affect the amount of profit. If the mission is very blurry, some commonplace will appear, which also will not attract much attention, will be weak among the more interesting super-tasks of competing banks. In everything, balance is important. Laconicism and originality will do the trick - the client will be interested, pay closer attention to the bank and, possibly, will come for any service. And it’s important: despite great ambitions and the desire to “conquer the world”, the bank’s mission should be feasible.