Barclays Bank of Kenya branch in Nairobi. Photo/the-star.co.ke
Barclays Bank of Kenya (BBK) will close seven of its branches beginning October 1, putting at risk hundreds of jobs in the targeted units.
Operations of the affected branches will be relocated to nearby units, the bank said as it confirmed that the closures are the result of a restructuring plan that has become necessary with the current market realities.
Top on the list of affected branches are Nairobi’s Moi Avenue and Haile Selassie Avenue branches, a unit in Meru and another in Wundanyi.
The plan will also see Nairobi’s Kawangware, Rahimtulla, and Waiyaki Way branches closed and their operations moved to nearby units.
On Monday, the bank played down fears of the closures causing job losses, maintaining that no staff was being sent home. It said that those affected will be redeployed to existing branches.
“Colleagues working in these branches will be redeployed based on available opportunities and matching competency skills, including the opportunities created by the ongoing Voluntary Exit Scheme. There will therefore be no redundancies as a result of this exercise,” Barclays said in a statement.
The bank said it was communicating the changes directly to customers early to avoid possible inconvenience when the changes happen.
“Further, for more convenience, customers have the opportunity to choose any other branch where they would prefer to have their accounts hosted. We therefore expect a smooth transition with minimal or no disruption in serving our customers.”
Several banks have sent staff home and some have closed their branches across the country amid the rise of online banking and thinned margins in the wake of the rate capping law.