Development Bank of Kenya expands its operations with new branch in Mombasa

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Development Bank of Kenya Chairman Ndungu Githinji (left) and the bank’s Chief Executive Officer and Managing Director Johnson Kiniti (right) are joined by Mombasa County government County Executive Committee Member for Finance and Economics Evans Oanda in cutting ribbon tape to officially open their new branch in Moi avenue , Mombasa on Thursday September 28th, 2023./COURTESY

Development Bank of Kenya has opened a new branch in Mombasa.

The Mombasa branch which is the first DBK branch outside Nairobi was launched on Thursday 28th September along Moi Avenue.

Speaking during the unveiling of the new branch, DBK Chief Executive Officer Johnson Kiniti, who is also the Managing Director, said the opening of the new branch was a move aimed at expanding the bank’s customer base.

“As a commercial bank, we feel it necessary to bring our services closer to our customers and that is why we are here. We are increasing our footprint and reach towards satisfying our customer needs,” said CEO Kiniti.

The bank branch located along Moi Avenue will see DBK customers from Mombasa have ease in doing their transactions without having to go through other banks.

“You can actually get any service that any other commercial bank can give you from our branch here, we have worked on the system so that you are able to reach us at the head office so that if there is anything that requires approval from the head office you do not need to actually come to the head office,” said the CEO.

Development Bank of Kenya CEO/MD Johnson Kiniti addressing the media during the opening of the bank’s Mombasa branch./JOYCE JURA

Also at the opening was Mombasa County Executive Committee Member for Finance and Economic Planning Evans Oanda who encouraged the bank to help in financing Beach Management Units (BMUs), SMEs, suppliers, contractors, and others in the county in need of financial services.

“We are very happy as a county welcoming DBK to Mombasa. It gives the county confidence that the financial fundamentals are very strong and that what we are trying to do as a county is resonating well with financial institutions,” said Oanda.

“Obviously with the coming in of this new bank, the competition is becoming very stiff, meaning the products that will be available to our people will be top-notch,” he added.

DBK Chair Ndungu Githinji said the opening of the new branch marked a significant stride in the bank’s strategic expansion across the country.

“This is a testament to our unwavering commitment to serving our customers and fulfilling their diverse needs. We aim to provide integrated banking products and solutions, especially to unbanked individuals, in alignment with the Central Bank of Kenya’s endeavors to foster financial inclusion,” said the Chairman.

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The opening of the new branch comes at a crucial time for MSMEs who have been facing challenges with some different banks, some having their accounts closed for not reaching a certain amount of money.

“We are here and we hope to even expand more depending on the business that we get. So far, the reception has been good, we have opened a good number of accounts already and we have only been up since 11th September, so hardly a month and we can actually say we have a number of accounts opened and already transacting,” said CEO Kiniti.

The bank says it is ready to partner with the people and county government of Mombasa

“We are working on Shariah-compliant products, we have already offered a few to our clients in Nairobi, and here in Mombasa, we will try to bring a few of those products into the market. It is all based on need,” said the CEO.

The bank has several partners including Post Bank who had been assisting DBK with their customers’ transactions in Mombasa before the opening of the branch.

Post Bank MD Raphael Lekolool says the bank will continue working with DBK to ensure their services reach the customers.

“As Post Bank, we have 96 branches and more than 500 agents around the country which DBK can use to reach customers,” said MD Lekolool.

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