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DTB to Close Six Branches Across the Country to Save Costs

[IMAGE/ COURTESY]

Diamond Trust Bank has announced plans to shut down six branches across the country in a bid to cut down its operational costs.

The Bank issued a notice saying the banks targeted are in close proximity to each other and will therefore be merged with alternative ones in the same areas.

“The Central Bank of Kenya has approved an application by Diamond Trust Bank to consolidate its branches in certain locations within the country,” DTB said.

“The staff in the affected branches will be redeployed appropriately to support other branches or business units within our network,” the Nairobi Securities Exchange-listed lender said.

Read: DTB Signs 100 Percent SME Asset Finance Deal with Simba Corp

Among those to be closed include the Oval Digital Lobby and 9 West branch in Nairobi’s Westlands. These two will be merged with the branch at Westgate mall, which is just a few metres away.

The Garden City Mall branch will also be merged with the branch at Thika Road Mall (TRM) Garden City Mall has experienced reduced foot-traffic following the closure of its anchor retail store, Shoprite.

The Eastleigh Branch will also be closed to be merged with the one at Madina Mall.

Read also: DTB Employee Tests Positive For COVID-19

DTB Jamhuri Street at the coast will also merge with the Malindi Branch, while the Kago Street branch in the North Rift merges with the Eldoret Branch beginning July.

The Bank has urged its customers to embrace alternative channels such as Mobie and internet banking. The Covid-19 pandemic has seen more banks close some branches and ATM in a bid to reduce costs amid the financial slowdown.

A number of lenders including The Standard Chartered Bank, Absa Kenya, DTB, I&M Holdings, Cooperative Bank and NCBA have issued profit warnings.

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Written by Vanessa Murrey

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