NIC Bank bets on the Coast with four new branches - Business Today News
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NIC Bank bets on the Coast with four new branches

Group Managing Director John Gachora said the move was informed by the Bank’s need to increase its footprint across the country and boost growth by increasing its customer base

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NIC Bank Kenya PLC will open four new branches at the Coast as part of its strategic shift to expand its network to support its ambitious growth strategy and reach more customers across the country.

The new branches will be in Malindi, Watamu, Kilifi and Diani. This will see the Bank’s branches in the region increase to eight and to 41 from 37 across the country.

NIC Bank’s Group Managing Director John Gachora said the move was informed by the Bank’s need to increase its footprint across the country and boost growth by increasing its customer base.

“We have acquired a significant customer base in the Coastal region over the years and we see the potential of expanding our network by opening these fully-fledged branches. This is a region that has a lot of fast-growing businesses operating in various sectors,” said Gachora.

“As NIC Bank we will not shy away from rolling out our expansion plan despite some of the industry trends we have seen. We are ambitious and are looking at opening 10 plus new branches in the next couple of years, focusing on key centres across the country.”

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The new branches will carry a full array of financial products and services to target the business community in the area. The Bank is eyeing the growing tourism sector at the Kenyan Coast, foreign deposits, asset finance, corporate and SME banking among other drivers.

In 2016, the bank revealed it had a target to open 50 branches across Kenya by this year to reach more retail customers and grow its SME business.

In addition to the branch expansion, NIC Bank continues to leverage technology to enhance customer experience, especially on its innovative online and mobile banking platforms.

 

Business Today is the leading independent online business website in Kenya. Started in 2012 by a veteran business journalist, it has a huge following both in Kenya and abroad. It covers various business and related issues. Email editor at: editor@businesstoday.co.ke

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