NCBA Bank of Kenya has opened a new branch in Utawala, Nairobi County, bringing the total number of its branches to 86 countrywide in an ambitious expansion agenda of its retail business by taking services closer to their customers.
Speaking during the official launching of the branch, NCBA Group Director, Credit Management, Pauline Ndote said that the launch was a strategic decision to bring their services closer to the people of Utawala as the area holds great potential to property development hub.
“At NCBA we are looking forward to lend our customers who are seeking to acquire, construct or finance property, our mortgages home loans of up to 105% of the value of the property and through this offering we have made home ownership easy and we are ready to make people’s dream of owning a home a reality,” said Ms Ndote.
She added that Kenya’s housing demand is expected to productively change in the next few years and with it a growing demand for innovative financing solutions to bridge the widening housing gap.
“The current outlook of the property market in Kenya states that housing is one of the fastest growing sectors with a rate of 4.2% every year and it is an indication to the need for adequate housing in the country,” she added.
The bank Director explained that the latest branch will be key to supporting the local businesses in the area through offering personalized banking solutions.
“At NCBA we understand the significance of Small and Medium Enterprises (SMEs) to economic growth, innovation, job formation and to social cohesion and we recognize that SME lending is not only one of the most economically important but also one of the profitable contributors to banking revenues,” added Ndote.
She noted that the new branch will provide the people in Utawala with different banking solutions like credit to grow businesses, asset finance, corporate, business and retail banking and the bank’s goal is to advance SMEs access to finance and find innovative solutions to unravel sources of capital for them to ensure their financial success.
Ndote reiterated that NCBA bank is the leading bank in asset financing and digital business, with a market share of more than 35% in asset of finance and the group intends to continue scaling up its branch network in 2022 by opening 11 new branches by the end of the year, bringing its services closer to their customers.
By Edna Okoth and Irene Mwende
