Family Bank on track to hit 100 branches with three new outlets
- 5 years ago
Family Bank is opening three new branches in Nairobi to push its branch network from 93 to 96 in an expansion plan that will see the bank achieve its target of 100 branches in the first quarter of 2017.
The three branches in Wangige, Eastleigh and River Road come at time when banks are scaling down on branches on the back a higher adoption of alternate channels.
But for Family Bank CEO David Thuku, the bank sees an opportunity in pursuing an expansion in both brick and mortar branches, and new channels like agencies, digital and ATMs.
“For Family Bank, we do not have an either or scenario. We might be seen as going against the grain but our market segment requires us to be in the brick and mortar space and that’s why we are opening a few more branches,” says Thuku.
The bank, the CEO says, has fully embraced an alternate channel strategy which may mean deploying human capital differently.
The three branches in Wangige, Eastleigh and River Road come at time when banks are scaling down on branches on the back a higher adoption of alternate channels.
But for Family Bank CEO David Thuku, the bank sees an opportunity in pursuing an expansion in both brick and mortar branches, and new channels like agencies, digital and ATMs.
“For Family Bank, we do not have an either or scenario. We might be seen as going against the grain but our market segment requires us to be in the brick and mortar space and that’s why we are opening a few more branches,” says Thuku.
The bank, the CEO says, has fully embraced an alternate channel strategy which may mean deploying human capital differently.