Sidian Tier II bank strategic alignment yields positive results

By Jeremy Ogolla

Sidian bank says its strategic alignment which seeks to turn it into Tier II bank in the next three years is on track and has started to yield positive results.

Sidian bank chief executive Titus Karanja says the bank has so far made a massive investment in technology pointing out that they have signed strategic partnerships to build entrepreneurship capacity with online cab, medical service providers and automobile dealers.

The strategy, which seeks to turn Sidian Bank into a Tier II bank by the year 2019, is anchored on key pillars among them rebranding, technology partnerships and people.

The bank has introduced an app which enables customers to transact seamlessly through mobile banking which has already been implemented with over 70 agents and continues to be rolled out throughout the country with a target of 3000 customers mid next year.

Sidian bank chief executive Titus Karanja says the bank signed the strategic partnerships to build entrepreneurship capacity with online cab, medical service providers and automobile dealers pointing out that the bank is ready to comply with the new law on interest rate.

The bank has also embarked on a voluntary early retirement scheme which offers an opportunity for staff who wish to transition to other careers directions to do so at this juncture, with about 108 staffs out of 560 staffs being targeted with the scheme.

On the issue of the bank being mentioned on the NYS saga Karanja said the bank cooperated during the investigation which was well covered by the parliamentary committee.

 

 

  

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