Ecobank to close down 10 branches

ecobank

Ecobank is set to close down 10 branches around the country from 1st October, in a move to aggressively push its digital agenda. This will see the bank’s branch network reduce to 67 from 77.

Reverend Patricia Sappor, Head of Corporate Communications at the bank explained that branches that are close to each other will be merged as a result of the digital drive.

“Some areas have branches just about 200 metres away from each other. It is prudent for the bank to merge,” she told the B&FT, in an interview.

The bank recently noted that its hope of becoming the most digitally advanced bank has chalked a major milestone with over 70 percent of its client’s transactions taking place on its digital channels instead of walking into a branch.

With the launch of its mobile banking application barely a year ago, the bank noted that the application now has close to 120,000 clients and offers several services including cross border and country transactions and purchasing Treasury Bills, which is unique to The Ecobank mobile banking application.

The recently launched Masterpas QR, in partnership with MasterCard, seeks to boost safe and secure digital payment via the mobile phone for both the banked and the unbanked.

Source: thebftonline.com