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Kenya Commercial Bank opens new centre

NYERI, Kenya Mar 24 – Kenya Commercial Bank (KCB) has built a modern currency centre in Mount Kenya region to support the local financial sector and minimise the costs incurred by banks in cash movement.

KCB Group Chairman Peter Muthoka said this has been prompted by increased business from the region which has immense potential in agriculture, especially tea, coffee farming and dairy processing.

“This is a Central Bank of Kenya certified facility and further demonstrates the bank’s leading role in supporting the economic development of this country and the modernisation of the financial sector,” Mr Muthoka said adding that they would make available affordable and innovative banking and financial products and services to enable the region reach its full potential.

In the year ended 2009, the bank announced a five percent growth in profitability to Sh6.3 billion.  During the same period, the Central Kenya region contributing Sh17 billion in deposits and Sh9 billion in loans and advances.

Mr Muthoka said the bank had embarked on strengthening regional platforms through introduction of unique products and services that suit the needs of the discerning cross-border business persons.

On his part, the KCB Group Chief Executive Martin Oduor-Otieno said the bank was focusing a lot more on changing the way it conducts business to suit the needs and expectations of the customer rather than our own convenience.

“Adopting modern customer friendly technology like KCB Connect puts us at par with the most forward-looking banks in the world and encourages our customers to come to us on the basis of what we are able to offer them,” he said.

Mr Oduor-Otieno disclosed that the bank would launch an Internet banking platform over the coming weeks to give our customers the added capacity to access their banking information, apply for banking facilities and conduct business from the comfort of their offices and homes.

This channel will complement their existing channels while enabling their customers to spend crucial time running their businesses rather visiting our branches.

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“We offer a full-range of banking and financial products suitable for a cross-section of the market. Our products range from deposit and lending products for individuals, organisations, and businesses as well as large corporates,” he said.

KCB is the largest bank in the region with a network of 203 outlets spread across Kenya, Tanzania, Sudan, Uganda and Rwanda.   It is also the largest bank in asset base at Sh195 billion.

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