KCB Managing Director Joram Kiarie (R) with BoU Deputy Governor Dr. Louis Kasekende (C) and other guests

The ongoing digitalisation and shift to agency banking by Ugandan banks has reduced on the workload initially handled by their branches.

This has in turn reduced the relevance of some branches and as a cost cutting measure, some banks have started merging their branches.

One such bank is KCB Bank, which has announced today that it has merged two of its branches in the city centre.

“In line with KCB Bank Uganda’s strategy to focus on digital channels and the onset of agency banking, the bank has merged its Kikuubo and Ben Kiwanuka Street branches,” KCB’s MD, Joram Kiarie revealed.

According to Kiarie, the merger is aimed at optimizing existing branch networks as the bank rolls out agency banking to serve its customers better.

KCB customers have already been sent alerts explaining the merger while informing them that they will get the same service that they have been used to at Ben Kiwanuka branch.

“We are piloting agency banking and will soon roll it out across the country, this will extend our network and services even closer to our customers,” noted Kiaire.

Digital channels and agency banking are beginning to take root in the local financial sector which has led to local banks closing or merging some of their branches.