Application of balanced scorecard as a tool for evaluating strategies of the commercial bank

Abstract

The market environment and increasing competition force Russian banks to seek new and effective methods and tools for evaluating their development strategy, ensuring consistency and effectiveness of evaluation, taking into account the multidimensional nature of banking activities and changing market conditions. From this perspective, the article substantiates and demonstrates the possibility of applying the Balanced Scorecard and Economic Value Added as tools for evaluating the strategy of a commercial bank.