Crédit Agricole Egypt inaugurates new branch in Palm Strip Mall

Hossam Mounir
5 Min Read

Crédit Agricole Egypt (CAE) celebrated the opening of its new Palm Strip branch in Sixth of October City in continuation of its strategy to expand in the growing urban area.

CAE selected the new branch’s location after conducting a geo-market study to identify geographical gaps. The branch is primarily located at the heart of Sixth of October City within a high business potential area and surrounded by three private universities.

The Palm Strip Mall branch represents a perfect choice in terms of visibility, network distribution, and proximity to a wide array of customers and corporates.

The branch’s soft opening took place in December 2021, and it is the 82nd addition to CAE’s well-distributed and widespread network of branches.

Now, more than ever, CAE is offering a full digital experience for all customers. The new branch adopts the ‘Banki Store’ concept, which relies on the balance between digital services and banking consultations. With its motto ‘100% digital, 100% human’, this new addition enforces one of CAE’s main values, usefulness to the community.

In banki stores, processes are optimised in order to reduce paper usage and ensure speed of service. Additionally, customers can use the bank’s fully supported application on iOS or Android-powered smart phones and tablets to register for their digital services.

Meanwhile, customer service officers dedicate more time to strengthen long-term relationships with customers and provide them with tailored financial solutions to all their projects, including property financing.

This new branch complements CAE’s efforts towards financial inclusion by delivering a full range of banking services and digital on-boarding activities to different community groups.

“The global trend towards financial inclusion, digitisation, and relationship excellence is still accelerating in Egypt and is strongly supported by the CBE. Banks and financial services companies are experiencing continuous transformation to remain competitive against market challenges, disruptive technologies, and ever-changing customer behaviours,” said Jean-Pierre Trinelle — Managing Director of CAE.

“Aiming to be the first bank of choice in Egypt, we are developing our banking services and introducing innovative solutions to achieve the highest level of customer satisfaction and experience.”

“In addition to the digital transformation, we believe in proximity and human relationship to provide the best financial solutions to our customers in all life’s moments. Hence, the opening of a new banki store in Palm Strip Mall is proof of our development in Egypt and our willingness to develop a sustainable relationship with customers from Sixth of October City,” he added.     

“We strive to always be ahead and offer new services to meet customers’ needs, lead digital transformation, and achieve sustainable growth. To that end, there is no better testimony than our success in growing our number of active digital customers by 22%, which has led to a sharp increase in digital transactions by 44% for individuals and 113% for companies.”

“Additionally, CAE expanded its ATM network from 190 to 249 in 2021 to enforce our digital strategy and maximise customers’ reach in different governorates. Adding 60 ATMs in areas with no ATM availability will enhance the customer experience and support the financial inclusion as per the CBE’s directions,” said CAE Deputy Managing Director and Chief Commercial Officer Walie Lotfy.

“CAE is an active contributor to the local economy, the bank is committed to support the development of the Egyptian community and respect the environment,” Lotfy concluded.

The Palm Strip Branch is the 15th banki store within CAE’s network of branches.

The concept was launched by the end of 2018, coming within the bank’s strategy to broaden its presence in urban areas. It mainly aims to increase customer satisfaction and serve society by introducing innovative services and dedicated solutions to build a sustainable relationship with all our customers.

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