NCBA to add 12 new branches

The lender who posted a 121 per cent growth in net profit to Ksh.10.2 billion on Wednesday had opened 13 new branches in 2021 including in Mombasa, Nyeri, Karatina, Ruiru, Bungoma, Embu Kakamega, Kericho, Ngong, Naivasha and Kiambu.

While the bank is well known for its digital forays, NCBA Group Managing Director John Gachora insists building a physical presence is still essential especially in the bank’s customer recruitment quest.

“The number one factor considered by customers when opening an account with us is the close proximity to a branch,” he said.

While many customers tend not to visit branches after getting fully onboarded, Gachora says customers still find branches relevant in the eventuality of a problem that cannot be resolved digitally/remotely.

At the same time, NCBA is eyeing branches to balance its reach across the country.

“If all you have is branches in Nairobi, you are irrelevant to a customer in Nakuru no matter how great your digital is,” he added.

Despite the growth of channels such as agency banking, NCBA insists the reach of the differentiated channels is still underpinned on the branch network with the scope of agencies for instance being tied to their proximity to branches.

NCBA nevertheless still intends to consolidate its branches with plans to shut five branches that are co-located including at the Junction Mall and in Lavington.

Last year, NCBA finalized the post-merger consolidation of its mobile banking channels under a single NCBA mobile application.

The new application allows NCBA customers to pay directly to M-Pesa tills, tap unsecured digital loans and make Forex trades.

The Group operates a network in excess of 100 branches in five countries including Kenya, Uganda, Tanzania, Rwanda and Ivory Coast and serves an estimated 50 million customers.