Absa Bank is defying the industry trend of reducing physical branches in favor of digital banking by expanding its branch network in key towns. This move comes after the bank’s rebranding from Barclays in February 2020, which led to a reduction in its branch numbers.
The latest addition is a new branch in Rupa’s Mall, Eldoret, marking the bank’s second branch in the town.
Abdi Mohamed, Absa Bank’s Managing Director and Chief Executive Officer, emphasized that this expansion is part of a broader strategy to cater to the growing business community in the Rift Valley region.
“We are happy to open our doors to the people of Eldoret and the larger Rift region with our second branch in Eldoret. This is part of our ongoing commitment to enhancing customer experience and expanding our footprint to serve the underbanked,” said Mohamed Absa Bank CEO.
The bank aims to enhance the customer experience for the underserved populations in rural areas, aligning with its commitment to providing comprehensive banking services.
Eldoret, Kenya’s fifth-largest town, is known for its economic contribution through large-scale grain farming, dairy and horticultural farming, trade and commerce, an expansive manufacturing sector, a booming hospitality and tourism sector, and a rapidly growing micro, small, and medium sector.
With this expansion, the bank aims to accelerate its customer-centric approach by increasing its physical presence through the opening of additional branches, leveraging digital capabilities, and enhancing its agency banking network.