This archive report was first published on 30 September 2021.
Thursday, September 30, 2021, marked a significant milestone for SBM Bank Kenya as it embarked on a digital transformation journey, shutting down five of its branches across the country.
The bank, which had previously closed five branches in December last year, has now closed its Lavington, Buru Buru, and Kimathi Street branches, effective October 29.
Additionally, the bank has shut down its express units in Limuru and along Ngong Road in Nairobi.
According to Moezz Mir, the chief executive of SBM Bank Kenya, the bank aims to leverage the growing mobile usage in the country to offer digital products that will make banking more efficient and convenient for its customers.
"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," Mir said in a statement.
Employees from the affected branches will be redeployed to other branches across the county, although the bank refused to disclose the number of workers involved.
Customers from the closed branches will be redirected to nearby branches, where they can access services such as cheque book collection, ATMs, and Family PesaPap agency.
"Currently, 82 per cent of our customers transact through alternate channels which include cards and mobile transactions enabled by digitization," Mir noted.
