Stanbic out to raise deposits

Tanzania's Stanbic Bank launched a switch campaign geared to boost its balance sheet by targeting top notch and middle class executives by offering 82m/- brand new pickup vehicle.

The campaign basically wants customers to test the bank's reversed services by switching from their current banks to Stanbic and have a chance of driving away with brand new Volkswagen's Amarok 2.4 diesel pickup.

The Bank's Head of Personal and Business Banking Mr Paul Omara said apart from a pickup, the bank also offers up to 1.0bn/- in mortgages for new clients under the switch campaign.

"This is the appropriate time as is the beginning of the year - buoyant with the country economy that produced young executives," Mr Omara told reporters.

He added: "We want these high-end individuals to save and earn more, while testing a different banking service."

The bank envisages to raise current account customers and grow its book as well between now and July.

The service include the bank's staff to pay personal visits to clients and help out on transactions and other related personal consultations regarding managing their accounts.

"The campaign aims to offer free banking services until the end of (this) July," Mr Omara said. The beneficiaries also are entitled to unsecure loan of up to 60m/- within 48 hours.

The Head of Personal Market, Mrs Lillian Kitomari, said the services offered are compared to none as "we are offering what others cannot offer. Just try us."
Source: Daily News, reported from Dar es Salaam, Tanzania
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