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CABS to rebrand, refurbish branches
08/07/2014 00:00:00
by The Source
Banks hit by high youth loan defaults

THE country’s biggest mortgage lender, Central African Building Society (CABS), is set to rebrand and refurbish its branches this month to improve service, a company official said.

“We are in the final stages of preparing to rebrand our corporate identity in July 2014.  Whilst we will maintain the brand name CABS, the general outlook of the brand will be enhanced and modernized,” the bank’s managing director, Kevin Terry said in a circular to customers seen by The Source on Tuesday.

He said in line with the rebranding exercise, which will be done in phases, the society’s branches would also be refurbished “to improve customer experience.”

Among branches to be refurbished is the Chisipite branch scheduled for opening in September.

“Our stationery and uniforms will also be aligned with the new brand,” he said.

Among its latest developments, CABS has also introduced a new service, DirectInject which enables the processing of bulk payments into CABS ordinary and closed card scheme accounts.

“The system is now live and is being used, primarily, for salary and wage transfers and for payments to support agricultural commodities’ purchases,” said Terry.

He said loans worth $2,8 million had been advanced  to parents and guardians under the CABS School Card Scheme, a revolving credit scheme which enables them to pay for schools fees and related expenses launched at the beginning of this year.

The scheme, which 20 schools have so far signed onto, has a repayment period of four months and is open to schools that belong to the Association of Trust Schools (ATS).

Meanwhile, in another circular, the society said it will be introducing a new savings account, CABS Savings Plan next month and will pay three percent interest per annum among other benefits.

Minimum balances range between $250 and $1000 depending on the type of account held.


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