Sunday, April 21, 2024
Home > Banking > Cairo International Bank Rebrands To Cairo Bank Uganda, Promises Customers ‘New Innovative Products’

Cairo International Bank Rebrands To Cairo Bank Uganda, Promises Customers ‘New Innovative Products’

Cairo Bank Uganda top officials unveiling the bank’s new look

Cairo International Bank has effective 1st September 2020 re-branded to Cairo Bank Uganda Limited.

Cairo Bank Uganda limited (The Bank) is a fully owned subsidiary by Banque Du Caire (BDC) set up with the intention of expanding BDC’s presence across the continent whilst providing an entry point into the COMESA market for a wide range of its customers.

BDC is one of the largest banks in Egypt with a  balance  sheet  of  over  $12bn  dollars. 

The  Bank  underwent  a  comprehensive  restructuring  process  in  2019  with  an  eye  to  boasting  operational  efficiency  and  positioning  it  to  be  able  to sustainably grow and offer competitive products and services to our market segment which is in line the strategic intent of being the ‘preferred small and medium enterprise Bank in Uganda’.

The shareholders invested a significant amount of money in 2019 and the Bank was able to move into a new fit for purpose head office with a renewed brand identity, procured and implemented a world class new core banking system and hired personnel at executive and middle management level with proven industry experience to support and execute the transformation journey.

The bank’s officials say the re-brand means the Bank is now positioned to leverage on a strong shareholder relationship and be part of a larger group with a strong global network and supporting millions of customers by opening their doors to endless opportunities.

The Managing Director of Cairo Bank Uganda, Mr. Ahmad Nada Maher while commenting about the change said: “Our customers can continue banking with us as confidently as they always done but also count on new innovative and exciting product offerings to the market and enjoy the advantages of banking with a brand that is part of a multinational group. The bank will continue to play a critical role in supporting the lifeblood of the economy which is the Small and Medium Enterprises (SMEs).”

Cairo Bank Uganda Managing Director, Ahmad Nada Maher

He added: “Our customers can look forward to a new, refreshed banking experience which will  include  a  wide  range  of  new  innovative  products  and  services,  internet  banking,  exciting  partnerships  with  fintechs  and  aggregators  to  provide  mobile  payment  and  cash  management solutions.”

The change in name will come with a brand new logo, slogan and brand color.

Cairo Bank Uganda Executive Director, Sylvia Jagwe Owachi

 Cairo International Bank has not been performing so well in the last few years. The bank made a loss of Shs2.83bn in 2019 from Shs3.48bn loss in 2018. However, its assets grew to Shs189.19bn, up from Shs124.76bn recorded in 2018.

Taddewo William Senyonyi
William is a seasoned business and finance journalist. He is also an agripreneur and a coffee enthusiast.

Leave a Reply

Your email address will not be published. Required fields are marked *