CIH Bank aims to reach 3 million active customers by 2025

At the end of 2021, the bank had 1.7 million individual customers and 23,656 corporate customers

CIH Bank wants to accelerate its growth and systematically double its customer base by 2025 to reach 3 million active customers, 70% of whom are outside Casablanca. This ambition is part of its business strategy but also in its CSR commitments aimed at accelerating banking and financial inclusion with an annual growth rate of 30% of the base clientele. Among the main levers, digitization and the extension of free basic services to new categories of customers, in particular seniors (+60 years old).

CIH Bank wants to franchise a new level of growth. The group’s ambition is to fairly double its clientele by 2025 to reach 3 million active clients, in particular individuals, self-entrepreneurs and VSEs, 70% of which in regions outside Casablanca. At the end of 2021, the bank had 1.7 million individual customers and 23,656 business customers. This ambition is part of its business strategy but also its commitments to contribute to the UN’s Sustainable Development Goals, through CSR actions aimed at accelerating banking and financial inclusion with an annual growth rate of 30 % of customer base. Among the levers of this growth, digitization and free basic services.

At the end of 2021, 90.6% of individual customers benefited from free banking with the introduction of the concept of free banking for life for all online account openings. “Free basic services for more and more categories of customers is at the heart of our development strategy. At the service of banking and the accessibility of financial products to the greatest number, our vision is based on the automation of basic banking services and the invoicing at the right price of value-added services. It is therefore through great transparency, comparability and readability of prices that we continue to nurture the trust of our customers”, underlines the group in an official document. In fact, free banking for life, first for young people in 2015 and successively for women in 2018 and civil servants in 2019, has been extended to all individuals opening an online account since June 2021.

The bank is now extending free access to new categories of customers, in particular senior customers (+60 years old). “In order to guarantee the transparency of our prices, the launch of each new product is subject to a rigorous process ranging from the validation of the Compliance Department of all prices and product sheets, through the display and communication on different channels up to the collection of the opinion of our customers through focus groups and satisfaction studies”, explains the group about pricing. In addition, CIH Bank has experienced strong growth in recent years, which is mainly based on the digitalization of the customer journey and relationship. The group aims to further enhance the digital positioning of the bank, among other things for access to credit: application, granting and repayment. In this sense, CIH Bank is working on the implementation of new processes facilitating access to financing for individuals and businesses. To strengthen its positioning on the financing market, the bank is also diversifying its offerings. As an indication, it has just launched the “Green Dev” solution in partnership with the EBRD (25 million euros) allowing companies to invest in energy efficiency and renewable energies. This financing includes a grant of 10 to 15% of the loan amount and free technical assistance.

Innovation is another lever of its growth strategy, through several initiatives, including co-construction workshops for the “Agency of tomorrow”. According to the group, CIH Bank is focusing on a strategic orientation defined around the main moments in the life of the bank/customer relationship in order to initiate a transformation by 2024, by thinking of the agency in an omnichannel environment and by redesigning the customer journey. In this context, a workshop in design thinking mode was initiated in order to involve all the stakeholders and reflect collectively on concrete solutions responding to the pain points of customers and employees. “We act for this on two levels: the stimulation of internal innovation among employees and the capture of external innovation by supporting the ecosystem of start-ups”, it is specified. The bank aims to achieve at least one internal and one external innovation program for the benefit of start-ups each year. It should be recalled that in 2021, growth and profitability were on the agenda for CIH Bank in 2021. Deposits (+17%), loans (+18%) and net banking income (+12.6%) consolidated increased by double digits. The latter even exceeded the symbolic bar of 3 billion DH. The net result, group share, reached 603 million dirhams, up sharply by 647%, compared to 2020.

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