The deal gives Chase Bank customers access to 104 Postbank Branches across the country
Nairobi: February 10, 2016: Chase Bank has announced strategic partnerships with Postbank as it moves to enhance its distribution networks across the country. The new partnerships will provide Chase Bank customers access to 104 Postbank branches, which will provide agency banking services to Chase Bank customers.
Speaking at the signing ceremony Chase Bank Assistant General Manager for Branches Ms. Beth Thuo said that the partnerships is in tandem with Chase Bank’s growth strategy. “As a bank, we are expanding our distribution network throughout the country by opening more branches and deploying a full range of non-branch channels including agent banking, offsite ATMs, mobile banking, electronic banking and other innovative channels as we respond to the needs of our customers,” said Ms. Thuo.
“This partnership with Postbank will provide easy and convenient access to unlimited banking services to Chase Bank customers and thereby boost our presence countrywide. This provides our customer with an opportunity to access financial services at a location nearest to them therefore, reducing cost and accessibility.” Ms. Thuo noted that symbiotic relationships were key in the growth of financial sector as the quest to improve financial inclusion grows.
Chase Bank has 54 branches and 1000 agents across the country. The bank also has 48 ATMs and is also connected to Kenswitch’s 1400 ATM outlets. The deal now takes Chase Banks cash access points in the region to 54 branches, 1104 agents, and 1448 ATMS. Postbank’s Ag. Managing Director, Ms. Anne Karanja said the dynamism in the banking sector had allowed for innovation and collaborations as banks sought different ways to meet the needs of different market segments.
“This partnership is strategic as it will allow Chase Bank customers’ easy access to banking services in areas where it has not set base but are already served by Postbank, therefore overcoming proximity challenges.” Chase Bank will be able to make cash deposits and withdrawals, obtain mini statements and make balance inquiries at any of the 104 Postbank branches.
About Chase Bank
Chase Bank Kenya is one of the fastest growing banks in Kenya. With a network of 54 branches, the bank has a very dynamic market positioning including its historical performance, both in terms of collecting deposits for granting loans exceeding the local banking industry performance without altering the quality of the assets that remain fundamentally sound. The bank has a keen focus on financing Small and Medium sized Enterprises (SMEs) particularly in the women, youth and agriculture sectors in order to enhance financial inclusion and foster economic development in Kenya.
About Post Bank
The Kenya Post Office Savings Bank (Postbank) was established in 1910. Similar Savings services were offered across the East Africa region. When the East African Community broke up in 1977, the Kenya Government established its own savings bank. Postbank is primarily engaged in the mobilization of savings for national development and operates under the Kenya Post Office Savings Bank Act Cap 493B. In addition, the Bank offers local and international credit cards under the sponsorship of a commercial bank, Local and International Money Transfer Services (MTS), collections and disbursement services.
For more information, please contact:
For Chase Bank
Group Head of Brand
Head Marketing & Business Development
Tel: (254) 20 2803205
Postbank Head Office, Postbank House, Banda Street