SBM Bank Kenya (formerly Fidelity Commercial Bank Limited) has announced plans to shut down five branches across the country, even as it seeks to encourage customers to embrace digital services.
Among the targeted branches include Lavington, Buru Buru, and Kimathi Street in Nairobi. Also in the shut-down list is Limuru Road and Ngong Road branches.
“At SBM Bank Kenya we plan to leverage on the growing mobile usage in the country to offer digital products that will make banking for our customers more efficient and convenient,” said Moezz Mir, chief executive of SBM Bank Kenya.
The branches will be closed by the end of October 29, with the employees in the affected branches being re-deployed to other branches across the county.
Read: Difficult Times For The Banking Sector Forces SBM To Close Five Branches
Customers in the affected branches have been advised to seek services in adjacent branches, with those who used the Lavington branch advised to seek services at Elite Branch located at ABC Place along Waiyaki Way.
Buru Buru Branch customers will get services at Donholm Branch located at East Gate Shopping Mall, Outering Road while Kimathi Branch customers will get services at Corner House branch along Kimathi Street.
SBM Xpress Limuru Road customers will seek services at Diamond Plaza Branch in Parklands while SBM Xpress Ngong Road customers will seek services at Kilimani Adlife Plaza branch.
“Currently, 82 per cent of our customers transact through alternate channels which include cards and mobile transactions enabled by digitization. In the present day, amidst the pandemic, more people are embracing technology and the use of hand-held devices for day-to-day activities,” added Mir.
In December 2020, the lender closed five branches in cost-cutting measures, and the current closure brings to10 the number of branches closed in less than one year.
Among the branches that were closed in December include Ngara, Dagoretti Express, Lunga Lunga Branch, Jomvu Express, and Mombasa Moi Avenue Branch.
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