Mmegi/The Reporter (Gaborone)

30 January 2009

Botswana: Capital Bank Opens Branch in Francistown

Capital Bank opened a new branch here with the promise of an array of quality products and services this week.

"We have three areas in which we will make Capital Bank better than other banks," said the Branch Manager, Madhava Murthy, at the official opening. "We are going to focus on reduced transactions, improved returns and give the customer attractive interest on deposit accounts.

We are also going to give dedicated customer service." He said Capital Bank is the only bank that gives customers three percent interest on their current account balances.

They found it necessary to open a branch in Francistown because "there are a lot of businesses here and the town is growing," Murthy said.

The Francistown branch is only the second of Capital Bank - the latest bank to operate in the country - in Botswana after the main office which opened in Gaborone in July last year."We have opened a second branch only six months after the first," Murthy said.It is also the second branch of an India-based bank to set up shop in Francistown after the Bank of Baroda branch in 2007.

Murthy said they expect improved business in the next 15 to 20 days. "People do not just come and open accounts," he said. "They first come and consult and see the arrangements, compare them with their current banks, and then make their decisions based on that."

The ATM outside the branch is running on a trial basis. "We are at the final stages of testing the ATM, which will begin operating in April," the manager said.

"We would also like to contribute to the social infrastructure of Francistown." Capital Bank is the sixth bank to open on Francistown's most famous address, Blue Jacket Street.

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