NCBA Group is accelerating the pace of bank branch expansion in 2023 as it seeks to bring services closer to customers.
The lender opened two brick-and-mortar locations in Kenol and Muranga taking its total branch network count to 88.
Excited to launch our newest Central region branches in Kenol Town at Kilele Mall and Muranga Town opposite Magunas supermarket. Bringing services closer to our customers. Join the fastest growing bank! @NCBABankKenya pic.twitter.com/wDKZLGHhnD
— John Gachora, MBS (@JohnGachora) April 14, 2023
It says it plans to open an additional 10 branches during the year.
NCBA Group Managing Director John Gachora said the branch expansion remains an integral part of its overall growth strategy.
“This is an exciting moment for our bank, and we are excited to be expanding our reach and better serving our customers in this agriculturally rich county. Given their strategic location, the new branches will be closer to our customers ensuring fast and easy access to our innovative banking solutions,” said Gachora.
Gachora said the bank aims to have a presence in at least all counties by 2026.
“Many of our customers who visit our branches are looking for more complex financial solutions such as asset financing, working capital, mortgages and even investment solutions,” said Gachora.
NCBA Group has also ramped up digital services, as reported in the fiscal year 2022. During the year, digital loan disbursement increased by 145.0 billion to a cumulative of Kshs 729.0 billion in FY’2022, from a cumulative of Kshs 584.0 billion in FY’2021.
Its deposits per branch increased by 29.4% to Kshs 5.8 billion from Kshs 4.5 billion in FY’2021, with the number of branches dropping to 86 in FY’2022 from 104 in FY’2021.
The 2022 banking industry customer satisfaction survey by the Kenya Bankers Association (KBA) shows that preference for branch banking spiked to 17.6 per cent in 2022, surging past the 2019 levels of 13 per cent before the Covid-19 pandemic drove customers to mobile channels.
