Conrad Mwanawashe Business Reporter
CABS is running unsecured payroll lending at $127 million and corporate sector loans amounting to just under $100 million including to the Distressed and Marginalised Areas Fund. Unveiling CABS new corporate identity yesterday, managing director Kevin Terry said the building society is committed to delivering growth for its customers.
In addition Mr Terry said CABS will launch VISA/Mastercard in the near future and will access over $50 million lines of credit by the end of this month.
Mr Terry also said the bank will raise a further $20 million for mortgage securitisation by year end.
On the rebranding Mr Terry said the objective to rebrand is to revive and rejuvenate the current corporate identity and to give it a more modern feel that will combine CABS heritage and its current position as a vibrant player in the local market.
“In line with the banks’ strategic focus, we undertook a research to see how our customers would like to see us presented.
“The findings were used to develop a logo we believe will position us as a progressive financial institution.
“The rebranding exercise focuses on the logo as well as our new tag-line ‘We’ll help You Get There’,” he said.
Terry said the rebranding was influenced by a market survey which revealed that the CABS brand was ‘old and tired’.
The rebranding will include changing the brand signage on banking halls.
“ . . . it has been like a black jack in your sock – niggling away.
But the time has come. And so now we have a new brand . . . and soon a new look to our branches Chisipite will roll out in September,” said Terry.
The unveiling of the new brand will be done in phases. This will include a new uniform for staff and refurbishments of the bank’s branches.
The Chisipite branch will be the first to be rolled out with the new look in September.
CABS started up the mobile banking product Textacash originally as an entry into the unbanked space but migrated to traditional customers – USSD but mobile application launching end of this month.
The bank successfully migrated to a new banking system and grew its POS acquiring business across Zimswitch from 30 to over 70 percent.