SBM bank has announced that it will close five branches in December as the bank reviews its branch network “in light of proximity to our client locations and our other flagship branches”. SBM announced the move in a notice on November 12, closing Ngara, Dagoretti Express, Lunga Lunga Branch, Jomvu Express, and Mombasa Moi Avenue Branch.
According to the bank notice, the review is “necessary to rationalize our presence in different locations in line with current and potential client activity on one hand, and on the other hand the related services required.”
Ngara, Dagoretti Express, Lunga Lunga, and Jomvu Express branches will close effective December 12, 2020, while Mombasa Moi Avenue will close its doors on December 30 2020.
Account-holders in the branches will access services in alternative branches at Kimathi, Kilimani, Donholm, and Jubilee branch in Mombasa.
In July, NCBA closed 14 branches, eight belonging to NIC and six to CBA, before the merger, in an effort to cut costs as COVID-19 restrictions reduced business activity.
Kenyan Wall Street