Standard Chartered Bank Kenya (StanChart) will shut down its Malindi branch at the end of April.
The lender announced this in a notice that did not provide reasons for the closure, but which signals an era of shifting towards digital banking as lenders transfer their services online amid falling customer traffic at branches.
“This is to inform you that we will close Malindi branch effective May 1, 2019. We will retain our ATM services within Malindi for 24-hour express services and convenience,” said StanChart.
The lender advised its Coast-based clients to access services from its two branches in the region including Maritime House branch on Moi Avenue and Treasury Square branch on Nkrumah Road in Mombasa.
The lender did not respond to Business Daily queries on how many employees the Malindi branch closure will affect.
Towards the end of August 2017, StanChart announced it would shut down four of its branches in Bungoma, Kisii, Kitengela and Warwick (Nairobi).
“All the affected staff will be deployed to branches and other roles in the bank,” said the bank then.
Former chief executive Lamin Manjang had linked earlier closures to reduced customer traffic into its outlets as clients shift to digital platforms to carry out transactions.
“We continuously undertake a branch rationalisation programme in line with our digital by design strategy, which is geared towards developing market-leading online and mobile channels that deliver easy, convenient banking to all our clients.
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