Commercial International Bank (CIB), Egypt’s leading private sector bank, has announced a new restructuring of its retail products and services that are offered to different segments, individuals and SMEs. This comes as part of the Bank’s efforts to meet the individual needs of every one of its segments.
This restructuring includes new methodology across all segments to provide customers with a wider range of options and allow them to make use of their segment’s benefits, including savings, loans, and revenues for companies. It also features a new pricing structure for CIB’s Savers Account and Time Deposits in local currency based on the customer’s segment instead of their savings.
CIB is the first bank in Egypt to implement such a methodology. The new pricing structure was designed to deliver clear pricing and provide maximum value and augmented benefits to customers across all segments. It aims to introduce a more customer-centric approach to banking and deepen Bank-customer relationships.
CIB’s savers account and conventional time deposits in local currency were previously priced solely on the deposited amount. The new practice offers interest according to each customer’s segment regardless of the amount.
“We are constantly exploring innovative ways to provide customers with the best financial solutions,” said Rashwan Hammady, Head of Retail Products and Segments.
“Our latest pricing structure is the first-of-its-kind in Egypt. It places customers’ needs and financial goals first while providing them with a banking experience tailored just for them.”
