This archive report was first published on 12 September 2019.
Co-op Bank is expanding its branch network with the launch of five new outlets, bringing its total physical presence to 160.
The new branches, located in Nairobi, Kapenguria, Maralal, and Chogoria, are part of the lender's strategy to stay competitive in cash-rich areas while also serving underserved regions.
According to Co-op Bank CEO Dr. Gideon Muriuki, the new branches have been determined through rigorous market research and will complement the bank's investment in alternative service channels such as agency banking.
'We believe there is no one single channel that will displace all others. Rather, it is the investment in an optimal and balanced multichannel strategy that will offer a fulfilling experience to the customer,' Dr. Muriuki said.
The new branches in Nairobi will be located along Kenyatta Avenue at Standard Building and at the upcoming Parliament tower, bringing competition to the doorstep of Sidian Bank.
The Kenyatta Avenue branch is currently undergoing final touches, with branding already complete.
