Barclays Bank of Kenya is set to close seven of its branches including; Moi Avenue Branch, Waiyaki Way Branch, Haile Selassie Branch, Wundanyi Branch and Meru Branch.
The bank announced on Monday that it will on October 1 relocate seven branches across the country in a move to save cost.
The lender, however, said the closure will not affect staff.
“This is a consolidation move aimed at aligning our business to the current environment.
“No staff will be sacked in the move,” said the bank in a statement.
Last month, the lender started the process of cutting down on costs and later invited its employees to apply for voluntary retirement, which is usually the first process in the retrenchment exercise.
“In the last few years, we have seen a material uptake of mobile and online banking as well as other alternative channels driven by customer preference and a desire to transact around the clock,” an email sent to its employees read in part.
“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,” the firm further explained.
The lender says it has been forced to lay off some employees since it ‘has been operating in an increasingly challenging environment’ that has forced it ‘to adapt to the prevailing market circumstances.”
