NCBA Group has announced plans to launch ten new branches within the country in 2020.
According to the Business Daily, the group will set up the new branches in Nairobi and Mombasa where it already has a presence and in four other counties, which it will be entering for the first time.
The group targets to have a total of 95 branches across Kenya, spread across 21 counties. Currently, it only has 85 branches in 17 counties.
According to the group’s Managing Director, John Gachora, the new branches will be smaller in size with fewer employees, acting more as sales centres. In the long run, this will help the bank expand, without incurring excess operational costs.
Furthermore, he opines that some of the individual branches belonging to either NIC or CBA, will be merged to form one branch. However, with every closed branch, there will also be a new one opened in a different but strategic location.
“By end of 2020 we want to have entered four more counties and added at least 10 branches. We will make sure the branches we open are not the traditional heavy duty branches but economical ones. Expect small and very affordable branches running with fewer employees.
Group Managing Director, John Gachora
Earlier on this year, NIC Bank merged with CBA to form NCBA, which is already licensed by the Central Bank of Kenya.