Nairobi, Kenya, October 1 – SBM Kenya Thursday announced plans to merge three of its branches and two Express Units effective November 1.
In a statement, the firm said the move is aimed at enhancing digital banking, a preferred means for many customers in the wake of the COVID-19 pandemic.
The three branches earmarked for merging are Lavington, Buru Buru, and Kimathi alongside two Express units- Limuru Xpress and Ngong Rd Xpress.
Moezz Mir, CEO of SBM Bank Kenya cited the ‘inevitability’ of convenient financial services which he said will be achieved by leveraging the growing mobile usage to offer digital products.
“Currently, 82 percent of our customers transact through alternate channels which include cards and mobile transactions enabled by digitization. In the present day, more people are embracing technology and the use of handheld devices for day-to-day activities.
He noted that the bank reviewed all the branches and settled for those which are in close proximity and with a lower footprint due owing to the migration of transactions to digital platforms.
“By optimizing the strategic placement of our physical branch network, we are ensuring appropriate resource allocation to our growing market area. At the same time, our investment in digital channels allows us to best serve customer demand, no matter the physical location,” Mir added.
The bank, has, however, clarified that no employee will lose their jobs and that all of them will be absorbed into existing branches.
“All employees who worked in the collapsed outlets will be absorbed and assigned specific roles in other branches, the merger will not result in any job losses,” it added.
