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SBM Bank Kenya closes five branches in digital push

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SBM Bank branch on Mama Ngina Street in Nairobi. PHOTO | SALATON NJAU

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Summary

  • SBM Bank Kenya to shut Lavington, Buru Buru and Kimathi Street branches, and its express units on Limuru and Ngong roads in Nairobi.

SBM Bank Kenya will shut down five of its branches across the country next month as it continues to push customers to embrace digital banking.

The lender, which also closed five branches last December, said it will close its Lavington, Buru Buru and Kimathi Street branches, an exercise that will take effect on October 29.

The bank will also cease operations at its express units on Limuru and Ngong roads in Nairobi.

“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 in a statement on Thursday.

He said employees in the affected branches would be re-deployed to other units, but did not reveal the number of workers in the five branches.

“Currently, 82 percent of our customers transact through alternate channels which include cards and mobile transactions enabled by digitisation.  In the present day, amidst the pandemic, more people are embracing technology and the use of hand-held devices for day-to-day activities,” said Mr Mir.

The bank said that customers who were seeking services at Lavington Branch will now go to Elite Branch located at ABC Place along Waiyaki Way.

Buru Buru customers will get the services at the East Gate Shopping Mall Donholm branch on Outering Road.

Kimathi Street branch customers will receive banking services at its Corner House branch along the same street.

Customers who were banking at SBM Xpress Limuru Road will now go to Diamond Plaza in Parklands, while those on Ngong Road go to its Adlife Plaza branch along Ring Road Kilimani, Nairobi.