NAIROBI, Kenya, Jul 11 – Standard Chartered Bank (StanChart) has announced plans to shut down four of its branches in Kenya as part of its restructuring plan.
The move comes only a week after its international comrade Barclays Bank of Kenya closed seven of its branches.
The bank attributes the closures to the current market conditions that have seen lower customers visiting banks’ branches as they shift to digital platforms.
Among the branches that will be closed include our branches in Bungoma, Kisii, Kitengela and Warwick (Nairobi) by end of August 2017.
All the affected staff will be deployed to branches and other roles in the bank.
“We are realigning resources to meet the changing needs of our clients. As our clients and the world go digital, our branch transaction traffic is impacted. We continuously undertake a branch rationalisation programme in line with our Digital by Design strategy, which is geared towards developing market-leading online and mobile channels that deliver easy, convenient banking to all our clients,” the firm said.