11 July 2008
Nairobi — The National Bank of Kenya will open five more branches as part of its expansion plan, the bank's managing director has said.
The new branches, Mr Reuben Marambii said, will be located at Moi's Bridge, Mutomo, Tigania, Kianjai in Embu and Eldoret Airport and would be operational by August this year.
Mr Marambii, at the same time, advised loan seekers to first plan for viable projects before taking them if meaningful development is to be realised.
"The bank will only give out loans to customers on the strength of their development plan which will ensure easy repayment of the loans," said Mr Marambii.
The MD, who spoke in Busia Town on Thursday, asked the bank's customers with outstanding loans to repay them on time.
He said that although the local banking industry was promising, there was need for banks to reach the rural population if their services are to be meaningful.
"Currently, there are so many up-coming banks in the country but most of them concentrate their activities in urban centres only leaving rural farmers without such services," he said.
Mr Marambii suggested that banking services be run on a 24-hour system noting that the current arrangement where most banks close business at 3 pm should be phased out to conform to changing times.
"We should run banking services for 24 hours to enable those working late access the services without necessarily asking for time off from their employers to get to the banks," he said.
The MD was accompanied by other senior managers of the bank and is expected to tour Bungoma, Homabay, Kisii and Siaya districts.
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