Why Kenya's top banks are renewing bet on retail market
Nairobi, April 8 -- Top banks in Kenya have spent years deepening their foray into corporate banking and wealth management. Now they are going back to where it all started - retail banking.
Retail banking, also known as consumer or personal banking, is catching the attention of lenders such as Standard Chartered Bank Kenya, Absa Bank Kenya, Stanbic Bank, NCBA and I&M Bank as they move to recruit the next generation of customers.
The approach is seen as a way of securing the next set of customers to grow with, amid talk that the Kenyan market is nearing maturity. The lenders see the mass market as a good hunting ground for new customers, especially the young population entering the financial system.
This is part of the reason nearly all...
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