The NIC Bank #ticker:NIC is set to open four new branches at the Kenyan coast in the near term as part of its effort to grow its customer base.
The new branches will be established at Malindi, Watamu, Kilifi and Diani, doubling its network in the region to eight and raising it to 41 countrywide.
NIC says it is targeting deposits, asset finance, corporate and SME banking business from the tourism sector.
“We have acquired a significant customer base in the coastal region over the years and we see the potential of expanding our network by opening these fully-fledged branches,” NIC’s chief executive John Gachora said in a statement.
“This is a region that has a lot of fast-growing businesses operating in various sectors.”
Mr Gachora said the bank plans to open a total of 10 new branches in the next few years, focusing on key business hubs across the country.