DTB partners with Posta on agency banking

Diamond Trust Bank along Moi Avenue. Photo Nobert Allan
Diamond Trust Bank along Moi Avenue. Photo Nobert Allan

Diamond Trust Bank will offer its banking services at Posta outlets in a new partnership to ease access to banking services by its customers.

The lender with a 500,000 client base across the country intends to increase its foothold through the provision of card based and cashless transactions through bill payments, cash withdrawals and deposits and cash transfers in the post office outlets.

“We are already connected to 180 Posta outlets under the first phase and in the second phase we are going to increase this to 400 locations,” DTB head of branches and alternate channels George Otiende said during the launch yesterday.

“With the stroke of a pen we have increased our branch network by 180,” said Otiende.

He said the partnership with Posta is part of the bank’s strategy to capitalise on the new law that has capped interest rates at four per cent above the CBK reference rate, increasing demand for credit.

He said that the move will not affect the bank’s existing branches or its staff members.

“For our staff, they will now have an opportunity to engage in business development, sales and service excellence and just improve the bottom line for the bank,” Otiende said.

DTB joins National Bank, Kenya Commercial Bank, Barclays and Co-operative bank as an agency banking partner under Posta’s e-payment service dubbed Posta Pesa launched in July 2013.