BARCLAYS BANK KENYA TO CLOSE SEVEN OF 102 BRANCHES

NAIROBI, Barclays Bank of Kenya, an indirect subsidiary of top British bank Barclays, has announced plans to close seven branches of its 102 branches in the country in a move likely to see some employees lose their jobs although it insists there will be no job loss.

An internal memo signed by Managing Director Jeremy Awori says the bank will close five branches in Nairobi, and one each in Meru and Voi, relocating the services they are providing to nearby branches.

Last month, Barclays Bank Kenya embarked on a staff rationalisation programme which will see at least 130 workers leave bank, one of the biggest financial institutions in Kenya.

The bank says some workers at the affected branches will be deployed to other branches but did not indicate how many people will be affected by the branch closures. The memo from Awori says: Colleagues working in these branches will be redeployed based on available opportunities and competency skills.

The closures are likely to send jitters within the banking industry in Kenya, coming days after the bank embarked on an exercise to retire 130 employees within the bank in an exercise set to take one month.

Currently Barclays Bank Kenya, which is majority owned by Barclays Africa Group based in South Africa, has 102 branches all over Kenya serving close to 900,000 customers.

Source: NAM NEWS NETWORK