CAIRO: Commercial International Bank is partnering with Al-Mansour Automotive Company to provide various financing schemes to consumers looking to buy Opel and Chevrolet models. In a statement, the bank said this cooperation is the first of its kind between the two, whereby customer service representatives from CIB with experience in financing systems will be present at Al-Mansour Automotive showrooms so customers can finalize their car financing procedures at showrooms across the country. Khaled Barakat, head of CIB consumer loans, said the bank plans to increase its share of the auto financing market to up to 25 percent by the end of the year. It is currently at 20 percent. He added, "The alliance of CIB and Al-Mansour Automotive is an added value to customers, with its new specialized financing programs that is to serve different segments of Al-Mansour Automotive customers, in addition to speedy procedures, flexibility and enhanced financing performance.” CIB offers a number of car financing programs to fit different categories of clients with minimal documentation, through Al-Mansour. Clients are only required to provide a copy of their national ID to receive their car financing. Approval of financing will then be managed within 24 hours upon completing of all procedures. The financing programs include all categories of Opel and Chevrolet vehicles and the repayment period is from one to six years.
