By Spy Uganda
Kampala: The financial news landing on our desk is that Cairo International Bank has rebranded to Cairo Bank Uganda Limited, with the changes taking effect on September 1, 2020. The bank also changed its logo, slogan, and brand color.
Cairo Bank a joint venture between several Egyptian banks and businesses, including: Banque Du Caire, Bank Misr and National Bank of Egypt, underwent a comprehensive restructuring process in 2019 aiming to boost operational efficiency and positioning it to be able to sustainably grow and offer competitive products and services to the market segment which is in line with the strategic intent of being the ‘preferred small and medium enterprise Bank in Uganda’.
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).”
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.”
As of December 2019 the total assets of CIB were valued at USh189 billion (US$50 million) with shareholders’ equity of USh52.3 billion (US$13.9 million).
Cairo International Bank Limited (CIB) was incorporated in Uganda in 1995. It began operations in 1995, after receiving a commercial banking license from the Bank of Uganda.