Kenyan Banks Cutting Back on Branch Services to Contain Spread of Coronavirus

Kenyan Banks Cutting Back on Branch Services

Banks in Kenya are scaling back retail operations as part of efforts to protect staff and customers from the Covid-19 pandemic.

As an alternative, the financial institutions are urging their customers to use their online channels – cards and mobile banking.

Coronavirus: Kenyans Embrace a Cashless Economy, Why it Matters

Kenya reported 122 cases of COVID-19, including 4 deaths, on Friday, according to the Ministry of Health.

SBM Bank Kenya Limited will temporarily close its Strathmore branch commencing Saturday. 

Bank of Africa (BOA) Kenya on Friday announced the closure of their Upper Hill (Embankment Plaza) and Gigiri (Warwick Center)  branches effective Monday. “The proposed closed branches are in close proximity of alternative branches where services can be sought,” BOA Kenya said in a public notice.

On Wednesday, NCBA Group temporarily closed eight branches across the country – Changamwe, Galleria, Eldoret, Junction Mall, Thika Road Mall, Hilton, Machakos and Meru.

“These are branches which are either co-located with, or in proximity to an alternative branch,” said NCBA deputy director for group customer experience Seema Dhanani DeSouza in a notice.

In March, financial institutions agreed to waive transaction costs for customers who move money between their mobile wallets and bank accounts. 

This is after they reached an agreement between the lenders and the Central Bank of Kenya to waive charges until June 30 in a push for cashless payments.

READ:

Coronavirus Pandemic and The Economic Threat, What Next for Kenya?

PesaLink Waives Transaction Charges for 90 Days