Ratio Magazine :: The Inside Track to East Africa’s Economies - Kenya: Press Releases: Ecobank Invests KES200m in Expansion

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Kenya: Press Releases: Ecobank Invests KES200m in Expansion

Monday, 27 July 2009

Nairobi, 27 July 2009: Ecobank Kenya Limited today opened two new branches in Nairobi and Mombasa. The Jomo Kenyatta Avenue Branch in Mombasa and Westlands branch in Nairobi brings to 16 the bank’s countrywide branch network.

Over the last one year, Ecobank has invested over KES200m towards its expansion and rebranding exercise, effectively doubling its branch network in just six months and slightly over a year since it entered the Kenyan market

The expansion drive now increases the bank’s countrywide network in key cities and towns to include Nairobi, Mombasa, Kisumu, Eldoret, Thika, Karatina, Kitale, Nakuru and Kisii. The bank will open additional branches in Nyeri, Malindi, Busia and Meru in the coming months.

“We have embarked on an aggressive marketing and publicity campaign and engaged in meaningful partnerships to encourage and increase lending opportunities. Among them is the USAid, Western Union and Ecobank partnership that has set aside funds to encourage investment by Africans in the diaspora,” Ecobank Executive Director Michael Monari said

The bank will also roll out of new products including the Ecobank Junior Saver Account and Internet banking, he said. The expansion of the branch network to major towns and cities is intended to enable our customers to access our range of unique financial services and products more conveniently and readily, said Monari.

The bank is keen on reaching out to the unbanked through its aggressive expansion policy and improved customer service which is key to delivery. The expansion also includes increasing innovative banking products, services and modern Automated Teller Machines (ATMs) countrywide. Mr. Monari said the bank has set up a state-of-the-art contact center operational for 24 hours, seven days a week. He said the toll-free Contact center is one of the very best in Kenya with highly specialized equipment to sustain calls from across the globe at any time.

The bank was recently named second runners-up in the Best Bank in Customer Satisfaction category at the Banking Awards 2009

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