NIC Bank Group has today opened a new branch in Kisii County as part of its ambitious expansion plan to reach more retail customers and grow its SME business.
The new branch will offer a full array of financial products and services to target the growing business community in the county and surrounding areas, as well as reach potential customers in the region. The new branch will build on the NIC Bank Kisii sales office, which has been in operation since October 2013 mainly driving NIC Bank’s asset finance business.
NIC Bank Kisii branch will be located in A. Jiwa Shanji Ltd. building, along Moi Avenue, the same building with the sales office.
“We are looking to increase our footprint across the country and investing in branches in key counties to enable us reach more customers and strengthen our deposit base to boost our growth,” said NIC Bank Group Managing Director John Gachora. “By 2018 we have a target to have 50 branches across Kenya.”
Mr Gachora noted the bank’s strategy was already bearing fruit from its strategic shift of the business towards the retail and SME, a move that is aimed at ensuring future sustainable growth and returns
This is the bank’s 28th branch in Kenya and is looking to open yet another fully fledged branch in the second quarter of 2016. The bank, in an effort to improve customer experience is also refurbishing and expanding some of its older branches. The Junction and The Mall branches are newly refurbished with work on the City Centre branch expected to start in April.
In addition to the existing branch network, NIC bank continues to leverage technology to enhance customer experience especially on its innovative online and mobile banking platforms.
In 2015, the bank opened branches in Machakos County, Lunga Lunga in Industrial Area and Kilimani in December.
To support its SME growth proposition, NIC bank, in December 2015, received a KES 5.56 billion credit line from the European Investment Bank (EIB) which is available through any of its branches.
