Diamond Trust Bank will shut down six of its branches across the country in a bid to reduce its operational costs.
In a statement, the lender said that the Central Bank of Kenya had approved its application to consolidate its branches in certain locations.
“The DTB branch consolidation will affect locations where branches identified for mergers are co-located or in close proximity to each other. The affected branches will cease operations with immediate effect,” part of the statement read.
Among the branches that will be closed include Nairobi’s Oval Digital Lobby and 9 West branch. The two will be merged with the Westgate Mall branch by the end of June.
Jamhuri Street Branch at the coast will merge with the Malindi Branch, while the Kago Street Branch in the Rift Valley will merge with the Eldoret Branch.
The Garden City Mall Branch will also be merged with the Thika Road Mall (TRM) branch by the end of September.
The Eastleigh Branch will also be closed and merged with the Madina Mall Branch by 30th October.
The lender said that the staff in the affected branches would be redeployed to support other branches or business units within its network.
The bank has urged its customers to use alternative channels, including digital and online banking platforms.
The Covid-19 pandemic has seen more banks close some branches in a bid to reduce costs amid the financial slowdown.
Last year, several banks, including NCBA, Standard Chartered, and SBM, also consolidated some of their branches to rationalise operations.
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