NAIROBI, Kenya, Feb 21 – Kenya Commercial Bank (KCB) has expanded its operations in Uganda by opening a new branch at Hoima, in the Northern part of the country.
Speaking at the opening ceremony, KCB Uganda Managing Director James Agin said the move is part of an expansion programme aimed at increasing the bank’s market share in the country and boosting its regional network. KCB established business in Uganda in November 2007 and has since opened seven branches.
“We have plans to expand further to Fort Portal and Mbale with further branches in the pipeline to cover the greater Kampala. With this large regional network, our customers are assured of access to their funds while at any of the countries in East Africa except Burundi where we do not have operations as yet, through our one-branch banking platform as well as ATM outlets,” said Mr Agin.
He added that the new branch would offer a wide variety of universal banking products and services key among them being savings and lending products, trade finance and foreign exchange services.
“The introduction of mobile banking services in this market is in our plans for the near future. We shall offer all savings and lending products that would be relevant to the needs of our customers. We know agribusiness is the backbone of the economy here and are committed to supporting this sector of the economy in any way possible,” he said.
KCB has employed more than 150 staff since it commenced operations in Uganda. “As we continue to expand so shall we identify and employ more Ugandans whom we shall train to be able to perform at all levels of the organization,” said Mr Agin.
Having started with one branch in Kampala, the bank has increased its outlets to cover a significant part of the country. Over the last three weeks, KCB has opened branches at Gulu and Lira in Northern Uganda, creating an important financial bridge for business people who have interests in Southern Sudan. A part from the branches in Northern Uganda, KCB has outlets on Kampala Road, Ben Kiwanuka and Luwum streets in Kampala as well as Mbarara.