CIB Egypt details its digital transformation results amid COVID-19

CIB Egypt details its digital transformation results amid COVID-19

In 2021, the number of digital banking transactions performed through Mobile Banking increased by more than double, reaching 107%. The value of transactions increased 159% to EGP 136bn y-o-y. In FY21, the value of transactions performed through digital channels increased by 60%, reaching EGP 861bn. The number of individual customers subscribed to Internet Banking also increased by 30% y-o-y. Furthermore, CIB Smart Wallet subscribers increased by 19%, doubling the value of executed transactions, which increased by 160%, equivalent to EGP 7.3bn. The number of ATMs also increased 15% y-o-y.

CIB’s Business Online services for corporate customers have also witnessed a major leap since the beginning of the pandemic, with customers depending completely on channels that offer alternatives to cash transactions and paperwork. The CIB business online transactions increased 103% y-o-y. In FY21, the number of subscribers had increased by 46%.

The Bank has successfully expanded its customer base for governmental e-payments for corporations through its Corporate Payment Services platform (CPS), establishing itself as the market’s leading bank in CPS service by the number of transactions performed. By FY21, the number of transactions increased by 104% y-o-y with a value exceeding EGP 23.4bn.

“We were able to achieve these remarkable numbers thanks to our