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KCB EXPANSION

KCB bank to open branch in Langata, moving close to Sh1 trillion base

In Summary

•The lender has already placed its banner on the mall, an indication it would be the anchor tenant.

KCB Group CEO Joshua Oigara at a past presentation of the bank's full year report.
KCB Group CEO Joshua Oigara at a past presentation of the bank's full year report.
Image: ENOS TECHE

KCB Bank is set to open a branch along Langata road at newly established mall, Freedom Heights, t boost the bank's asset value and a step closer to the Sh1 trillion  base.

The lender has already placed its banner on the mall, an indication it would be the anchor tenant. 

The move comes at a time most financial institutions are moving away from brick and mortar to lower operations costs.

 

The bank that target customers away from branches in Ongata Rongai and Kibera could help drive its capitals and fixed assets, ahead of its expansion plans to Rwanda and Democratic Republic of Congo.

It has already established operations in the East Africa region.

It has also revealed plans to open a representative unit in China as it aims to benefit from increased trade ties between China and African countries. The requirement to establish such entity is about one trillion in asset base.

As at December 31, the group posted assets value at Sh714.3 billion to make it the biggest lender in the country.