KENYA: Ecobank Taps into Upper Hill’s Growing Commercial Influence

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Submitted by IQ4News on Mon, 26/09/2011 - 12:47pm

The banking sector in Kenya has recently witnessed rapid growth in assets, deposits, profitability and products offering. The growth has mainly been underpinned by the industry’s growing branch network both in Kenya and within East Africa.

The automation of a large number of bank services and a move towards emphasis on the complex customer needs has also largely contributed to the growth.

In line with its expansion strategy and move to strengthen its presence in the Kenyan market, Ecobank has opened its 21^st branch in Upper Hill, just under a month of opening another branch in Meru town.

Upper Hill is a fast growing commercial area with almost all financial service providers angling for the emerging SME and corporate pie that businesses operating there have to offer.

Managing Director Tony Okpanachi said Ecobank opened the new branch in Upper Hill to be able to serve its huge clientele in the area and tap into the opportunities that come with its preferred location for head office space by many organizations.

“We are extremely delighted to open our Upper Hill branch, which we believe will play a key role in enhancing customer service for our corporate and individual customers in the area. We urge businesses and employees to take advantage of this new branch and join us on the mutual journey of economic development of the country.”

Growing Markets

Mr Okpanachi said the bank was eyeing two more branches in Nairobi before the end of the year and several in different Counties following requests by members of the public to move its services closer to them.

Ecobank Group ventured into Kenya in June 2008 through acquisition of the former East Africa Building Society (EABS) and has rapidly grown its branch network across the country.