Clients push banks to grow branches despite high cost
Scroll down to read the article
A security guard at the entrance of KCB Bank at Imaara Mall in Nairobi on 21 September 2023. Commercial banks will continue expanding their branch network this year.
Nairobi marked the highest increase in the number of branches during the period at 15.
Most bank branches, however, remain concentrated in urban centres with 36.8 per cent in Nairobi County.
Commercial banks will continue expanding their branch network this year as consumers maintain their penchant for physical outlets to access key services, a new industry surveys showed.
Despite the increasing reach and liking for fully automated or self-service platforms including mobile, internet, and chatbots for their banking services, surveys by both the Central Bank of Kenya (CBK) and the Kenya Bankers Association (KBA) showed an irresistible bond between customers and physical branches.
