This archive report was first published on 23 December 2019.
December 23, 2019
NCBA Group is set to expand its presence in Kenya with the launch of ten new branches in 2020. The new branches will be established in Nairobi and Mombasa, where the group already has a presence, as well as in four other counties.
According to the group's Managing Director, John Gachora, the new branches will be smaller in size with fewer employees, acting more as sales centres. This strategy aims to help the bank expand without incurring excess operational costs.
Speaking on the expansion plans, John Gachora stated, "By end of 2020 we want to have entered four more counties and added at least 10 branches. We will make sure the branches we open are not the traditional heavy duty branches but economical ones. Expect small and very affordable branches running with fewer employees."
NCBA Group's expansion plans come after the merger of NIC Bank and CBA, which was completed earlier in the year. The merged entity, NCBA, is already licensed by the Central Bank of Kenya.
As part of the expansion, some individual branches belonging to either NIC or CBA will be merged to form one branch. However, with every closed branch, there will also be a new one opened in a different but strategic location.
