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The decision by Kenya Commercial Bank (KCB) to lay off staff so as to save Sh2 billion a year in salaries has reactivated debate on if banking halls still have a place in modern banking.
In a circular sent to staff by KCB Chief Executive Joshua Oigara on the eve of the lender’s Annual General Meeting, the CEO said the bank had been forced to rethink its business model owing to the effects of the interest rate caps.
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