CBI Launches New Personal Loan Offer
Tuesday, September 23, 2014
Commercial Bank International (CBI) announced today the launch of a new Personal Loan offer.
The new Personal Loan presents a number of value added features including lower monthly installments, flexible repayment periods, and a market leading rate of 4.75% p.a. for customers earning AED 20,000 per month and above. Customers also get CBI’s award winning Rewards Credit Card, high loan amounts of up to 20 multiples of salary, simple documentation and quick processing times. With repayment periods of up to 4 years coupled with annual deferral facilities, guaranteed instant cash back of AED 2,500 for all approved loans in excess of AED 150,000, individuals can enjoy one of the most flexible multipurpose personal loans available in the UAE.
David Power, CBI’s Head of Retail Banking, commented on the new Personal Loan offering: “Retail Banking is about understanding and meeting customer needs. At CBI, we are focused on introducing new, innovative, and transparent products that are simple and easy to understand. This has recently been reinforced by winning the 2014 Banker Middle East’s ‘Transparency in Retail Banking’ award for the UAE and MENA. This title proudly highlights our key differentiating factor among our peers – simple and straightforward banking solutions with no hidden fees, no false claims, 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.”
“As a committed Bank that values building partnerships with our customers, we make sure that we give them the maximum benefit from their transactions with CBI. Because we understand our clients’ needs and lifestyle, we are in a position to provide them with the most appropriate portfolio of products and services.”
In addition to its value packed Personal Loan, CBI has recently revised and enhanced all of its retail products with the aim of meeting customer needs and ensuring that the entire financing process is simple and quick.
“While our products are amongst some of the best value propositions in the market, it is the crucial combination of market leading products, compelling customer service and ease of access, that reinforces the vision of CBI as a trusted and reliable banking partner across the Emirates,” affirms Power.
Supported by a full suite of award winning products, online presence, 24/7 call centre and growing branch and ATM network, CBI is here to meet customer needs with simple, convenient and competitive banking solutions.
Earlier in 2014, CBI was recognized by the Banker Middle East for Transparency in Retail Banking, a first-in-its-category win that highlighted CBI’s renewed customer-centric strategy.
In 2012, Qatar National Bank (QNB), the leading financial institution and largest bank in the MENA region completed the acquisition of 40% of CBI. 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.
CBI reported a net profit of AED 177 million in 2013. The bank’s First Half 2014 recorded AED 108.7 million in net profit, a reinforcement of the CBI’s growth trajectory with a year-on-year Operating Profit growth of 22%.