Bank Saderat Iran is better prepared than ever to play a significant role in the country's economy, relying on recent achievements and modern strategies, the bank's deputy board chairman said during a visit to Sistan and Baluchestan province, ANA reported on September 30.

Eghbali-Rad cited repeated capital increases over the past two years, improved capital adequacy ratio and optimal use of overseas branch capacity as Bank Saderat Iran's strengths in serving the country's economy.

Mehdi Eghbali-Rad told managers of production units and economic activists that Bank Saderat Iran has taken effective steps to increase its market share in recent years through implementing modern strategies.

These include strengthening information technology infrastructure, increasing foreign exchange transaction capacity, utilising overseas branch capacity, reforming financial structures, capital increases, cooperation with major communication and technology companies, building public trust and developing non-physical services.

"This bank, with 74 years of experience and public trust, is today more prepared than ever to help the country's economic growth and development," Eghbali-Rad said.

The deputy board chairman described bank profitability as a key factor in providing successful banking services during a meeting with bank staff in Sistan and Baluchestan province.

He noted that Bank Saderat Iran has achieved operational profitability after several years.

"Previously, profitability came mostly through overseas branches or capital market investment, but today the bank's own banking operations have become profitable and the future path is clear," Eghbali-Rad said.

He mentioned reforms to foreign exchange structures in domestic and overseas branches, saying the bank's rebranding in the near future will bring valuable achievements.