CIB sees an expansion in digital services on COVID-19

Commercial International Bank (CIB) has seen a 100 percent year-on-year increase in internet and mobile banking transactions during July, as customers rushed to banking services digital amid the spread of coronavirus pandemic, according to CIB’s deputy COO, Mohamed Farag.

Egypt’s largest listed bank has embarked on a long-term strategy over the past years to develop digital channels and automate payments.

The number of CIB customers using services edged up by 20 percent during July, compared to last December, said Farag.

Customer use of smart wallets also increased between July and December, giving CIB a 21 percent activity rate in smart wallets, which Farag said is the highest in the Egyptian market