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Financial strategy is a framework organization which directed the financial decision making resulted from different conditions, dynamic competitors and collection of relative reactions. Financial strategy is one of key factors in organizations and increase shareholder wealth by identifying value drivers. Accordingly, this study aimed to analyze the impact of financial strategy on financial operation of banks and also presented a pattern to develop and prioritize such strategies. To do this purpose, data were collected relative to Iran banks from 2010-2011. Independent variable of this study was determined as financing strategy (combine deposits) and investment strategy (payment facilities) and variables like net interest margin and economic added value were accounted as financial operation criteria (dependent variables). Data were analyzed by Kruskal-Wallis test and using SPSS software. Results of present study indicated that financing strategy influenced significantly on economic added value, but did not influence on net interest margin. In contrast, impact of investment strategy on economic added value was rejected, but on net interest margin was confirmed. In second part, after using Delphi method, viewpoints of scholars in a private bank were collected and relative strategies in four fields of opportunities, threats, strengths and weaknesses were determined and after creating SWOT matrix, they were prioritized using AHP technique and presented a pattern to develop such strategies in an organization. Keyword: financial strategy, net interest margin, economic added value, SWOT analysis, hierarchical analysis, Delphi method. JEL classification: G21, G28 Introduction Strategy was defined as a comprehensive image of long-term, objectives and short-term purposes and main policies and programs to achieve these purposes and explain present or future mission and present or future existence of organization. Financial strategy is a collection of dynamic and relative reactions which is implemented regarding mutual positions and activities of other organizations. Financial policy was defined as determination of certain values of financial variables such as determination of certain ratio for dividend distribution among shareholders, financial policy, systematic combination are included which are provided for strategy implementation and accounted as important process in implementation such as cash or production funding. Present theories have examined generally determination of financial policy and assisted mangers in financial decision making, but these theories are one dimensional and stable and final conclusion has been presented by assuming stability of other factors. Author’s Address 1,2 Islamic Azad university of Kermanshah branch, Kermanshah, Iran 3 Razi Kermanshah University, Kermanshah, Iran 4 Islamic Azad University, Kermanshah, Iran A financial strategy included analysis of different economic events and other environmental variables, definition and specification of impacts impacts of each variable on firm activity, considering alternative responses, comprehension of relative exchange and evaluation of likely different response of competitors. Based on created images for future, different decision have been made which have been about variables controlled by firm. So, financial managers should make multiple and simultaneous decisions in an environment with permanent changes. In a real world, financial manger should find a way to interact with different financial theories together and this is a role of financial strategy. Basis and mission of financial strategy is respond to unclear and unreasonable positions (Senobar, 1995). Currently, financial strategy has been regarded as one of key factors in organizations and increase shareholders wealth by identifying value drivers (Mehrani, 2001). Theoretical basis and review of literature Basis of financial strategy creation Concept of strategy was stated first by Chinese Philosopher named as “Sun Tzu” which had written in a thesis called “war art” 400 years before Christ. This Philosopher defined this Environment Conservation Journal 16 (SE ) 405-416 , 2015 ISSN 0972-3099 (Print) 2278-5124 (Online) Abstracted and Indexed

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Impact of Financial Strategies on Financial Operation of Iran Banks and Develop a Model to Prioritize the Financial Strategy Using Combined Techniques SWOT and AHP