Sunday, June 16, 2024
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Stan Chart Kenya To Shut Down Four Branches

Standard Chartered Bank (StanChart) will close its branches in Bungoma, Kisii and Kitengela next month as it pushes online and mobile banking and cut costs.

Also affected by what the bank said was a branch rationalization programme is the Warwick Branch in Gigiri, which will also be shut down, according to the Standard.

In a statement on Monday, the bank said accounts of affected customers would be moved to the nearest branches.

The bank, however, did not elaborate on the fate of employees stationed at the branches earmarked for closure.

“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. Consequently, we evaluate how we should reformat our branches to deliver to our aspiration,” said the bank’s chief executive Lamin Manjang’ in the statement.

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