Why Barclays Bank Is Shutting Down 7 Branches

Barclays Bank Kenya has aounced that it would be shutting down 7 of its branches from October 1 in a bid to restructure its operations and cut cost.

The overhaul would affect 5 branches in Nairobi, one in Voi and another in Meru. They include Moi Avenue, Haile Selassie, Waiyaki Way, Kawangware, Rahimtulla, Nakumatt Meru and Wundanyi branches.

The affected branches would be consolidated with other nearby ones which would see the number of Barclays bank in the nation reduced to 95.

Barclays Managing Director Jeremy Awori noted that the restructuring would not affect staff, as they would be redeployed to other branches.

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In a memo sent to staff on Monday, Awori said;

“Colleagues working in these branches will be redeployed based on available opportunities and matching competency skills.”

He added that “We have briefed the impacted colleagues and HR will help them make a smooth transition as the changes take effect.”

The memo pointed out that the Bank was investing more in digital and online banking in order to meet customer preference.

“In the last few years, we have seen a material uptake of mobile and online banking as well as other alternative chaels driven by customer preference and a desire to transact around the clock.”

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“Consequently, in order to satisfy our customers’ preference and provide the desired customer experiences both now and in the future, we have been investing in automation and digitisation programme.”

In another statement to the media, Awori said that Barclays would “be investing significantly in the merged outlets so that our customers can enjoy an even better experience banking with us.”

He also said that Barclays was guiding customers with domiciliary accounts on how to redirect them. He said that “Customers will have the freedom to choose any branch for their accounts to be hosted.”

Barclays Bank Kenya, last month began a voluntary early retirement scheme targetted at about 130 staff members.