An SBM Bank Kenya branch in Nairobi. The bank is set to shut down a raft of branches across the country {Photo: Business Daily}

SBM bank has announced that it will shut down five branches in December as the bank moots cutting down on costs and enhancing efficiency.

SBM announced the move in a notice on November 12, closing Ngara, Dagoretti Express, Lunga Lunga Branch, Jomvu Express, and Mombasa Moi Avenue Branch.

In a notice issued by the bank, the review has been prompted by the need to rationalize its presence in different locations in line with current and potential client activity on one hand, and related services on the other.

Ngara, Dagoretti Express, Lunga Lunga, and Jomvu Express branches will close effective December 12, 2020, while Mombasa Moi Avenue will close its doors on December 30 2020.

“This closure does not affect availability of our services on the alternate channels; Mobile banking, Internet banking, Agency Banking and Card business,” the lender said.

Customers attached to the branches in question have been advised to seek services from alternative branches at Kimathi, Kilimani, Donholm, and Jubilee branch in Mombasa.

“We thank you for your continued patronage and we sincerely regret any inconveniences caused,” further stated the lender.

SBM follows in NCBAs footsteps which shut down 14 branches countrywide, following the merger between the Commercial Bank of Africa (CBA) and NIC Banks which rendered some of the branches surpluses to requirements.

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