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Irony of expanding bank outlets amid massive layoffs

Central Bank of Kenya Headquarters in Nairobi (PHOTO: FILE)

NAIROBI, KENYA: About 93 new bank branches were opened last year despite massive layoffs, migration to mobile-based technology and a shift to agency models, a new survey shows.

According to the Cytonn Investments 2017 Banking Sector Report, this year alone, National Bank has opened two new branches in Nandi Hills and in Kitale as it targets the expanding agribusiness sector.

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