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All SBM Bank branches shut for system upgrade




An SBM Bank outlet. FILE PHOTO | NMG 

SBM Bank Kenya is set to close all its branches today and tomorrow as it upgrades its core banking system.

The Mauritian lender, which completed the acquisition of Chase Bank assets in August, in a notice said that all its 53 outlets will not be operational on Saturday and Sunday.

Some services offered at the bank branches such as issuance of chequebooks and cheque deposits will be interrupted.

SBM’s customers will however access alternative channels including mobile banking, ATMs, agents and debit card transactions.

“Kindly note that we shall be carrying out the final steps of a scheduled core banking system integration this weekend. Accordingly, all our branches remain closed for two days—-Saturday ,December 1 and Sunday, December 2 , 2018,” said the lender in a notice to its customers yesterday.

“During this time, you can still access banking services through our mobile and internet banking channels, or use your Visa debit, prepaid and credit card at any Visa branded outlet or ATM to withdraw. We shall resume full operations on Monday December 3.”

SBM formally took over Chase Bank mid-April this year upon conclusion of a sale deal.

The bank, whose shares trade on the Stock Exchange of Mauritius, first entered the Kenyan market after acquiring bottom-tier lender Fidelity in 2016 at Sh100. It then rebranded it to SBM Kenya in May 2017.

It opens its main branches in the country on Saturdays between 9:00 am-2:00 pm and its express branches on Sundays between 10:00am-6:00PM on Sunday.

In July, Chase Bank closed 10 of its branches spread across the country following the takeover of some of its assets by the Mauritian lender SBM Group.

Some of the branches that were closed includes Kisumu Xpress located at Naivas Supermarket, Pangani Xpress at Oil Libya, the Parklands branch located at Medi Plaza and Delta Branch located at PWC Towers in Westlands, Nairobi.

Other branches affected were City Centre Branch located at the Prudential Building, Garissa branch at Lilac Centre, Kayole branch at Shujaa Mall and the Eastleigh branch at Sunrise Mall.







Kenyan Digest