Businesses & Financial News

Post Bank, FCB ink branch agreement deal

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By Steve Umidha

Kenya’s Post Bank and Sharia’h compliant bank First Community Bank (FCB) Tuesday signed a strategic deal in a move that will see FCB customers have access to 98 Postbank branches across the country.

“This partnership is a win-win for the two partners as it will create synergies arising from this collaborative approach while at same time allow FCB customers easy access to banking services in areas where it has not set base therefore overcoming proximity challenges,” said the Managing Director of Postbank Ms. Anne Karanja.

The Chief executive of FCB Hussein Hassan believes the unique partnership is a broader plan by the lender to expand its branch network as it seeks to boost its 20 existing branches.

“We are expanding our distribution network throughout the country by opening more branches and deploying a full range of non-branch channels including agency banking, mobile banking and other innovative services,” said Dr. Hussein.

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