For several years, CIB has maintained its position as the largest private bank in the Egyptian market. During this time, the Bank has exemplified the highest standards of professional dedication, ethics, and innovation. CIB’s connection to its core values remain strong, and the Bank has strengthened its brand position in the financial services sector in Egypt and beyond. Both locally and internationally, CIB had been recognized for its customer focus, social commitment, and innovation.
During 2018, CIB received prestigious awards from world-renowned organizations. For the second consecutive year, CIB was named the “World’s Best Bank in the Emerging Markets” by Global Finance. The Bank received the same award from Euromoney in 2017. CIB is proud to be the first bank in Egypt and the Middle East to win this prestigious award.
Additionally, CIB has received numerous international awards that demonstrate its excellence across different business lines. On the digital banking front, CIB received Global Finance’s “Digital Bank of Distinction in Egypt” award and FinTech Galaxy’s “Financial Inclusion Champion of the Year” award for the first time in 2018. Global Finance also recognized CIB as having the “Best Online Cash Management” and “Best Online Portal Services” in Egypt. In 2018, CIB received the following awards and recognitions:
- Digital Bank of Distinction in Egypt by Global Finance
- Best Online Cash Management in Egypt by Global Finance
- Best Trade Finance Services in Egypt by Global Finance
- Best Online Portal Services in Egypt by Global Finance
- Best Information Security and Fraud Management in Egypt by Global Finance
- Best FX Services in North Africa by EMEA Finance
- Best Payment Services in North Africa by EMEA Finance
- Best Foreign Exchange Provider in Egypt by Global Finance
- Best Trade Finance Provider in Egypt by Global Finance
- Best Treasury & Cash Management Providers in Egypt by Global Finance
- Best Bank in Egypt by Global Finance
- Best Bank in Egypt by Euromoney
- Best Bank Transformation in the Middle East by Euromoney
- Best Regional Bank - Northern Africa by African Banker
- Best Subcustodian Bank in Egypt by Global Finance
- World’s Best Bank in the Emerging Markets by Global Finance
- Best Local Bank in Egypt by EMEA Finance
- Best Corporate Bank in North Africa by Banker Africa
- Best Corporate Bank in Egypt by Banker Africa
- Best Private Bank in Egypt by Banker Africa
- The Innovators by Global Finance
East’s “Top 100 Listed Companies in the Arab World,” ranking the highest of the four Egyptian companies on the list.
Another unprecedented international achievement of this year is the London Business School’s (LBS) decision to conduct a case study of CIB. The Bank is the first Middle Eastern company to be analyzed in a case study by the Leadership Institute of the LBS — one of the world’s top five business schools. CIB was selected in recognition of its success in leading a data-driven, human-centric transformation in the face of macroeconomic challenges.
The awards and recognitions received this year serve to reassert CIB’s strong position and outstanding performance as a local bank with global standards. This recognition is also a testament to the resilience of Egyptian organizations and the stability and positive growth of the Egyptian economy. The Bank’s outstanding achievements send a clear signal to investors and the international community about the promise of the Egyptian market.
The Marketing and Corporate Communications team has been diversifying its campaigns and activities to promote the Bank’s achievements and competitive market services across a variety of channels. In foreign media channels, senior management was featured in the world’s most prominent publications, including The Financial Times, Global Finance, The Banker, Bloomberg, Banker Africa, Yahoo! Finance, and The Economist. In addition to highlighting CIB’s achievements and leadership, these interviews also demonstrate the Bank’s commitment to supporting the country by sharing stories of its economic progress and enhancing its position worldwide. CIB has also been involved in several high-profile international events as a sponsor or key speaker. At the “Leading Transformation in Turbulent Times: In Conversation with Commercial International Bank-Egypt (CIB)” event organized by LBS, CIB Chairman and Managing Director Hisham Ezz Al-Arab gave insight on how CIB has created value for clients, shareholders, and society by investing in data and talent.
On the local and regional media front, CIB maintained a strong presence over the past year. Through advertisements and news releases published by reputable outlets, the Bank promoted its product launches and marketing campaigns. Members of CIB’s executive management were featured in prominent local publications, such as Akhbar Al-Yom, Al-Masry Al-Yom, Al-Alam Al-Yom, Al-Shorouk, and Al-Borsa. The Marketing and Corporate Communications team has been steadily expanding its media relationships and exposure over the years with a focus on online platforms. CIB has increased its media presence on many renowned news websites, such as Youm7, Veto Gate, Al-Watan, and Al-Mogaz, to reach an online audience of more than 50 million people. In 2018, CIB also sponsored the new season of televised entrepreneurship competition Hona Al Shabab hosted by well-known Egyptian TV host Lamees El-Hadidi. By participating in this event, CIB widened its media exposure and — most importantly — extended support to several promising startups.
The team also focused on expanding its internal communication channels. Such efforts included ongoing townhalls and casual staff events, which maintain direct communication lines between senior management and employees. It also launched an entertainment show named “CIB Bel 3araby” (CIB in Arabic) exclusively for staff. The first of its kind in the banking sector, the objective is to provide employees with a non-traditional corporate communication experience using a show that tackles important Bank and employee concerns in a humorous way. Another newly modified internal communications channel is the biweekly digital newsletter “CIB Round-up”, which is issued to shed light on CIB-related news, the banking sector, and the Egyptian economy at large. Similarly, the team launched a new edition of the staff photography competition dubbed “Capture the Beauty of Egypt”, which allows staff to express their artistic talent.
On the external communications front, other recently introduced communication channels are the digital media screens installed at selected branches and visual marketing materials installed across Cairo, Burg Al-Arab, Hurghada, Sharm El-Sheikh, and Aswan airports. These channels are considered more appealing, direct channels with customers that strengthen the Bank’s brand equity.
In line with CIB’s commitment to supporting the community, the team continued to expand its corporate social responsibility activities by supporting an array of projects and initiatives across the country, focusing on sports, art, culture, and lifestyle.
As an organization, CIB believes that sports play an integral role in shaping the minds and health of Egyptian youth; the Bank has been diversifying its efforts to support Egyptian athletes. To know more about CIB’s efforts in supporting athletes, please refer to the Supporting the Best in Class: Squash section of the report.
The Bank is also an active, long-standing supporter of the arts in Egypt. CIB continues to support art students in public universities across the country’s governorates by acquiring selected pieces from their projects for the Bank’s art collection. For the second year in a row, CIB sponsored the Night with Art at the historic Manial Palace, an event at which more than 500 renowned international guests had the opportunity to view rare and distinctive pieces by Egyptian artists in a remarkable historical showroom. Moreover, CIB has contributed to international events such as Made in Egypt, an exhibition of young Egyptian designers held in London, and the Africa Art Workshop organized by Soma Art School in the Democratic Republic of Congo during the seventh edition of International Contemporary Art. Such contributions reflect the Bank’s steadfast commitment to Egypt and strengthen its ongoing efforts to promote Egypt’s positive image worldwide. One of the significant projects that complements the Bank’s role as an ambassador for the country in regional and international spheres is CIB’s special book. This annual production carries a different theme every year that promotes various aspects of the country. This year, the team produced “Faces & Places” in partnership with the renowned journalist and photographer Roger Toll, who shares the Bank’s appreciation of Egypt’s complex and vibrant culture. This book highlights the diverse landscapes of our country as well as the juxtaposition of the past and present in our daily lives in the most authentic way possible: by sharing the experiences of its people. The team also produced a set of books entitled “Building Modern Egypt”, which features Downtown Cairo, the Suez Canal, Cinema Cairo, the Egyptian Bourse, and Egyptian Post to document modern Egyptian history.
In 2018, CIB sponsored and contributed to numerous events and venues, with sponsorships encompassing art, culture, sports, CSR initiatives, and many others.
The Marketing and Corporate Communications team has worked extensively on campaigns as well as product and segment launches this year. In line with CIB’s vision of customizing the Bank’s services and communication for each segment, the team revamped the identities of its existing segments to reflect the progressive journey of our customers’ growth with CIB. The Bank has also proudly introduced special campaigns for CIB Private, a new segment that caters to the investment and banking needs of customers with bankable assets of more than EGP 20 million. The team launched a dedicated webpage and a tailored Internet Banking experience for clients in this segment. In addition, the CIB World Elite Mastercard was launched to provide the Bank’s HNW customers with a variety of enticing benefits, such as zero mark-up fees on foreign currency transactions and zero over-limit fees.
Major marketing campaigns include Travel to Russia contest, the Egyptair Apply & Win promotional campaign, and Cash on Phone campaign. CIB has also embarked on several partnerships with leading digital and technology brands in Egypt, including Apple and Souq.com. The Bank has also launched product-focused campaigns, including the equal payment plan campaign, 0% installments, and seasonal campaigns such as Back to School. The latter effort demonstrates the Bank’s transformation and adoption of a modern, digital-focused brand image.
Digital banking was at the core of this year’s marketing campaigns. The team introduced various promotional offers and drives to promote CIB’s digital banking services and encourage customers to perform their everyday banking tasks online.
More recently, CIB has invested more heavily in online media primarily as we consider it a more powerful platform to target and analyze customer behavior. To that end, the Digital Marketing team began utilizing new technologies such as geo-location to send SMS to customers in targeted vicinities, mobile advertising, and internet network collaboration. This strategy was first implemented in relation to ATM machines installed in the North Coast during the summer. It led to the execution of over 7,400 transactions in a single week and saved over EGP 512,000 in cost synergies. Other newly employed technologies include Airpush and Maddict, which make it possible to target mobile devices with tailored advertisements that match users’ behaviors. CIB also collaborated with Mastercard to execute four Smart Wallet campaigns in 2018 that resulted in an increase in transaction volumes from EGP 250,000 to over EGP 550,000 per month. During the month of Ramadan, a charity awareness campaign launched through Smart Wallet resulted in a 57% increase in donations to charitable causes, which reached over EGP 5 million.