Banks shut ATMs to 11-year low on digital, agency banking uptake rise

BDATM

Kenya features more ATMs and commercial bank branches as a share of the population than Tanzania, Uganda and Rwanda. PHOTO | SHUTTERSTOCK

Banks have cut the number of automated teller machines (ATMs) to levels last seen 11 years ago as customers increasingly turn to agency, internet and mobile banking.

Central Bank of Kenya (CBK) data shows the banking sector closed May with 2,291 ATMs, compared with 2,338 in a similar period last year to send the total count near the 2,285 that were in the market in November 2012.

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Note: The results are not exact but very close to the actual.