Standard Chartered Bank Kenya (StanChart) has confirmed the closure of its Malindi branch effective May 1, 2019, as part of a broader strategy to prioritize digital banking solutions. The decision follows declining in-person customer traffic and aligns with the bank’s digital-by-design approach.
The lender stated in a notice that ATM services will remain operational in Malindi for 24-hour access, while clients are directed to use branches in Mombasa, including Maritime House on Moi Avenue and Treasury Square on Nkrumah Road. The announcement did not specify the number of employees affected by the closure.
This move echoes previous branch rationalization efforts. In August 2017, StanChart closed four branches in Bungoma, Kisii, Kitengela, and Nairobi’s Warwick area, with affected staff redeployed to other roles. Former CEO Lamin Manjang attributed such closures to shifting customer behavior toward digital platforms.
StanChart’s regional CEO, Sunil Kaushal, emphasized the bank’s commitment to digital transformation, stating, "Digitising Africa continues to be an integral component of our strategic transformation." The lender is expanding its digital retail banking model, already launched in Tanzania and Ghana, with Kenya’s rollout planned for early 2019.
The shift has raised concerns about potential job reductions, following a 2015 restructuring that saw 167 employees let go under the London-based parent company’s initiatives.
