Co-op Bank opens new branch in Kamakis, Nairobi
Co-operative Bank has expanded its physical outlet by opening a new branch in Kamakis on Nairobi’s eastern bypass as part of an implementation of its medium term strategy focused on local expansion.
The new branch will add to the current 173 branches in the country bucking the trend of maintaining or reducing brick-and-mortar outlets as observed among other banks.
The bank said that it is opening new branches despite relocating 90 per cent of transactions online because its large base of retail clients and partners, individuals, saccos and agents require cash management and other support services.
“The emerging theory that bank branches and ATMs will cease to exist is largely wishful thinking driven by desire to cut brick-and-mortar costs, and not by credible customer feedback on the service outlets through which customers prefer to be served,” Co-op Bank Chief Executive Officer Gideon Muriuki had said.
Other branches the lender is set to open include Kabarnet, Iten, Moyale, Mwiki/Kasarani, Bunge at the new Parliament Towers in Nairobi and Kamulu in Eastlands, Nairobi.
The move to open the Kamakis branch will expand the bank’s customer base.
