The grand opening of Kingdom Bank’s new branch in Kisumu has been hailed as a potential game-changer for the local economy.
The bank, which is owned by the Cooperative Bank of Kenya, has established itself as a leading financial institution in the region, with a strong focus on providing loans to small and medium-sized enterprises.
Speaking at the opening ceremony, Kisumu Governor Anyang’ Nyong’o praised the bank’s arrival in the city, saying it signified a positive shift in the county’s economy. He urged the local community to embrace the bank and take ownership of it, noting that the institution was well-positioned to drive economic growth in the area.
The Governor went on to highlight the bank’s commitment to providing access to finance for small businesses, a critical component of economic growth.
He noted that the bank’s loan book of over Ksh. 194 million, and its focus on micro-economies through loans to small and medium-sized enterprises, would be a valuable addition to the financial landscape of the region.
Antony Mburu, the Managing Director of Kingdom Bank, echoed the Governor’s sentiments, stating that the bank was committed to driving financial growth in Kisumu. He noted that the bank’s strong liquidity position and its established banking relationships with over 1,000 residents of Kisumu would enable it to provide much-needed financial support to the local community.
The opening of Kingdom Bank’s new branch in Kisumu comes at a time when the region’s economy has been hit hard by the COVID-19 pandemic. The bank’s entry into the market is seen as a potential catalyst for economic revival, providing access to finance for small businesses and driving overall economic growth in the region.
The grand opening of Kingdom Bank’s new branch in Kisumu represents a significant milestone for the region’s financial landscape. With a strong focus on providing access to finance for small businesses and a commitment to driving financial growth in the area, Kingdom Bank is well-positioned to make a positive impact on the local economy.