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Bank of India opens shop in Kisumu, Eldoret

Bank of India has opened two more branches in Kisumu and Eldoret to bring its total outlets in Kenya to seven as it seeks to increase its market share in the banking industry.

The bank on Tuesday also announced that two more branches in Nakuru and Thika would be opened next month.

Bank of India global executive director BP Sharma said the opening of the new branches was part of its plan to increase its footprint in Kenya and Africa. Mr Sharma said use of technology was the next frontier for banks in battle for clients.

“Our use of biometric registration to open bank accounts for our clients in the comfort of their homes has proven to be the biggest innovation of the Bank of India,” he said.

The Eldoret branch is expected to begin operations next week while the Kisumu outlet started serving customers Thursday.

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The bank has been operating in Kenya since 1953 when it opened its first branch in Mombasa. A year later, the lender opened its first branch in Nairobi’s Heritage Building.

“We have our footing in housing, retail, small and medium enterprises, and in hospitality,” said RK Verma, the bank’s country chief executive.
He said the bank also plans to expand to other counties.

The lender’s total assets are valued at Sh51 billion while its current deposits stand at Sh27 billion.

The bank also operates in Uganda, Tanzania, Zambia, Botswana and South Africa.

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