Ecobank Kenya has revealed plans to commission four new branches in Kenya. According to Reuters, its managing director, Tony Okpanachi said, at a banking conference, plans are underway to open the branches before the end of 2012.

The new target is as a result of the abundant opportunities currently available in Kenya’s SME sector.

While describing Kenya’s growing middle class, “There are lots of opportunities in the SMEs (small to medium enterprises). You can’t run away from that. There are a lot of opportunities in the consumer banking side,” he said.

Commenting on plans to expand its customer base, the MD said, “At the end of this year we hope to have increased our customer numbers to over 200,000. From where we were, that is huge growth,” he added.

Okpanachi disclosed that Ecobank Kenya has recorded an investment with net worth of $30 million as it expands, and has installed forty automated teller machines (ATMs) within a period of two years; the bank’s software has also been upgrade within the period.

The MD also announced that as part of a continental initiative by the parent company Ecobank Transnational Incorporated (ETI), the bank will launch its mobile-phone based service before the end of the year.

ETI is a pan-African bank incorporated in Togo; it entered Kenya – East Africa’s largest economy-through the acquisition of EABS Bank Ltd in 2008.

Ecobank Kenya has revealed plans to commission four new branches in Kenya. According to Reuters, its managing director, Tony Okpanachi said, at a banking conference, plans are underway to open the branches before the end of 2012.

The new target is as a result of the abundant opportunities currently available in Kenya’s SME sector.

While describing Kenya’s growing middle class, “There are lots of opportunities in the SMEs (small to medium enterprises). You can’t run away from that. There are a lot of opportunities in the consumer banking side,” he said.

Commenting on plans to expand its customer base, the MD said, “At the end of this year we hope to have increased our customer numbers to over 200,000. From where we were, that is huge growth,” he added.

Okpanachi disclosed that Ecobank Kenya has recorded an investment with net worth of $30 million as it expands, and has installed forty automated teller machines (ATMs) within a period of two years; the bank’s software has also been upgrade within the period.

The MD also announced that as part of a continental initiative by the parent company Ecobank Transnational Incorporated (ETI), the bank will launch its mobile-phone based service before the end of the year.

ETI is a pan-African bank incorporated in Togo; it entered Kenya – East Africa’s largest economy-through the acquisition of EABS Bank Ltd in 2008.