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MID Bank launches new brand in Egyptian market - Daily News Egypt

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MID Bank launches new brand in Egyptian market

Bank boasts integrated strategy to develop various business sectors, grow and support financial position, whilst maximising profits, says Amr El-Garhy


MID Bank has launched its new brand in the Egyptian market under the slogan “Empowering Your Future”.

Chairperson and Managing Director of MID Bank Amr El-Garhy revealed, on Monday, its ambitious strategy that aims at comprehensive development and growth. This is projected to help the bank keep pace with the plans and ambitions of the Central Bank of Egypt (CBE).

The CBE’s strategy is to develop the work of the Egyptian banking sector to keep pace with the latest technologies and global banking norms.

MID Bank’s new slogan comes as a means of expressing its new business plan that aspires to enhance the bank’s activity in the Egyptian banking sector. 

The strategy also aims to expand the provision of products and services that depend on digital and technological means, in addition to retail banking services.

Diversity in the customer base and the enhancement of the bank’s banking activity are at the top of the bank’s current priorities, which will contribute to supporting digital transformation and financial inclusion plans. This comes in light of the state and CBE’s strategic direction to maximise the benefit for all sectors of society, and achieve sustainable growth.

El-Garhy said that the bank’s launch of its new identity and ambitious strategy came after the implementation of a comprehensive restructuring plan. This included not only changing the identity and brand of the bank, but also developing the infrastructure and engineering and preparing an integrated strategy.

It aimed at keeping pace with the modern banking systems present in the Egyptian market, and enhancing the portfolio of services and products. 

This looks to keep pace with technological and digital development, and to attract and seek the help of employees with expertise in the banking sector. Combined, these will work towards supporting the bank’s strategy in the next phase.

El-Garhy added that the bank’s strategy included the implementation of a plan for geographical expansion and the opening of new branches in several governorates of Egypt. This took place with the aim of competing and strengthening the presence of MID Bank as a comprehensive bank for banking services in the Egyptian market.

At the same time, it was also to keep pace with the CBE’s plans and ambitions in the process of financial inclusion for all sectors and groups of society. 

The bank is looking to additionally put in place a sustainable plan to empower its employees, upgrade their technological skills. This will also help build new workers through training courses, to keep pace with technological progress and digital transformation. 

El-Garhy noted that the bank’s vision attaches great importance to developing the technological infrastructure, to ensure its readiness to launch the latest banking products and services to customers.

He explained that MID Bank aims to enhance its market share by focusing on all banking sectors, including the corporate sector, small- and medium-sized enterprises (SMEs), and the retail banking sector.

This will take place by increasing the number of products for individuals, and targeting new segments. It will also ensure preparations for marketing and promotional studies to enhance the bank’s position in the Egyptian market.

As part of its comprehensive development strategy, MID Bank recently introduced a number of new sectors and departments, whilst restructuring some others. This came about as new elements of proven competence were attracted from various local and international banks operating in the banking sector, to lead these sectors and departments.

The bank also adopted a development strategy to restructure branches to raise the efficiency of employees and develop communication skills with customers. This was put in place to provide a distinguished banking service that is both fast and easy in procedure.

El-Garhy noted that new departments will be opened at the bank, to improve the services and products provided to customers in order to enhance the bank’s banking activity. 

Through this strategy, MID Bank intends to expand the provision of advanced digital banking services to individuals, develop automatic teller machines (ATMs), and increase their numbers. These are among other packages of services that the bank is working to provide in the Egyptian market.

The activities to launch the new identity also included the establishment of the first forum for employees to announce the axes of the strategy and its axes. All employees of the bank’s various departments and branches were invited to share this important historical event in the bank’s journey as they are the backbone of all the bank’s successes and achievements throughout its extended history.

It is noteworthy that restructuring and identity shift process were carried out in cooperation with local and international bodies and companies known for their competence and professionalism in managing such operations. This guarantees the achievement of the desired goals in accordance with the set timetable.

Topics: MID Bank

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https://dailyfeed.dailynewsegypt.com/2021/03/08/mid-bank-launches-new-brand-in-egyptian-market/
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