CBI Awarded for ‘Transparency in Retail Banking’ by the Banker Middle East
Tuesday, June 10, 2014
Commercial Bank International (CBI) has been awarded the ‘Transparency in Retail Banking’ Award at the much coveted Banker Middle East Industry Awards ceremony held in Dubai on June 3rd.
The award has been presented for the first time in the MENA region. It has primarily been created by the Banker Middle East to highlight the need to rebuild trust in the banking sector and appreciate financial institutions that are doing the right thing by offering customers transparent and value for money products, against a backdrop of growing customer discontent at the increasing number of products services on offer with hidden fees and charges.
Commenting on the win, Kris Babicci, CBI’s Chief executive Officer, stated: “We are honored to have received this distinctive award as the win emphasizes CBI’s success in raising the benchmark for retail banking in the UAE and across the MENA region. CBI’s renewed customer-centric strategy has been designed to rebuild trust and engender long-term loyalty and satisfaction through better-tailored, high quality products and services.”
“The award reinforces our position as a reliable and trusted partner, and aligns well with our new Vision and Mission to be ‘the preferred bank in the UAE for customers, shareholders and employees by constantly working harder building partnerships.’ It further emphasizes CBI’s Values for being a Passionate, Accessible, Committed, and Trusted partner to its customers, shareholders, and employees,” continued Babicci.
David Power, CBI’s Head of Retail Banking, who received the award on behalf of the bank, observed: “Winning this award has special significance for CBI as it highlights the Bank’s key differentiating factor among its peers – simple and straightforward banking solutions with no hidden fees, no false claims of free banking, and no unpleasant surprises. To our customers, we only sell and promote products that are designed to be in their best interests and meet their banking needs.”
The Banker Middle East Industry Awards recognize the best performing institutions across the Middle East and North Africa and are widely considered as a benchmark of excellence in the industry. CBI had recently won several accolades including ‘Most Improved Bank in the MENA Region’, ‘Best Bank in the UAE’, and ‘Best Credit Card’ by the Banker Middle East, along with the ‘Employer of the Year’ title by the Higher Colleges of Technology, amongst others.
In 2012, Qatar National Bank (QNB), the leading financial institution and largest bank in the MENA region completed the acquisition of 40% of CBI shares. CBI’s new brand launched in March last year reflects this partnership. With an expanding network across the United Arab Emirates, an enhanced product suite and a renewed customer-centric approach, CBI remains well positioned for future growth.