Ecobank Merges 74 Branches

Fund management
  • Ecobank Merges 74 Branches

Ecobank Nigeria Limited has merged 74 of its branches, thereby reducing the number of its branches to 405, from 479.

The bank also has reaffirmed its digital transformation agenda enabling its customers depend more on its digital platforms to do their daily banking activities, thereby reducing the need to go to branches. By this development the bank will have enhanced services leveraging more on its digital channels.

The Managing Director of the Bank, Charles Kie said the move was part of the bank’s transformation agenda which is meant to create a fundamental shift in its banking activities to digital channels, as well as improve customers’ experience, while also reducing the cost of serving them. This also supports the bank’s financial inclusion strategy and the cashless policy of the Central Bank of Nigeria.

A statement at the weekend quoted Kie to have explained that as part of this strategy, the bank has enhanced its retail internet banking platform with much speed and flexibility. Also the Ecobank Mobile App that enables customers to do instant payments; open accounts, as well as do instant transfers across 33 countries in Africa.

The Ecobank App, the first of its kind in Africa has an innovative payment solution, the Ecobank Masterpass that allows customers the convenience to pay for goods at merchant locations by simply scanning a QR code on their phones.

With the merger Ecobank now boast of 405 branches across the country supported with top of the range technology application. According to Kie, “after a detailed analysis of the physical network of branches needed to serve our customers, the decision was made by the Ecobank Nigeria Board, and approved by the Central Bank of Nigeria, to optimise 74 out of its 479 branches.

“We are deploying staff and other resources from the merged branches to other ongoing projects, while also strengthening the existing branches to make them more resourceful and up to speed in their daily activities.”

About the Author

Samed Olukoya
Samed Olukoya is the CEO/Founder of investorsking.com, a digital business media, with over 10 years' experience as a foreign exchange research analyst and trader. A graduate of University of East London, U.K. and a vivid financial markets analyst.

Be the first to comment on "Ecobank Merges 74 Branches"

Leave a comment

Your email address will not be published.


*