Leading financial service provider NIC bank has opened a branch in Kisii Town.
The branch was opened in a colourful ceremony presided over by Kisii Governor James Ongwae. The entry of NIC bank into Kisii is a significant boost to the vibrant economy that has already attracted over 20 commercial banks.
Governor Ongwae welcomed the move by the bank to open a branch in Kisii saying it showed the rich investment potential in the region. He noted that residents will now enjoy a wide variety of financial services.
“Kisii County is a growing into a commercial hub for the South Nyanza region. Statistics from the Central Bank in Kisumu indicate that we control over 60 per cent of the money market in the region so the coming of NIC bank will help grow the county’s economy even further,” said Ongwae.
NIC bank will offer a full array of financial products including personal loans, mortgages, asset finance, SME and corporate loans among other services.
“We encourage other commercial banks and financial institutions to invest in the county and help grow the economy of this region to greater heights. We have developed the necessary supporting financial infrastructure to help enhance trade and business. Our 24-hour economy gives this region an added advantage in business,” said Ongwae.
He called on financial institutions in the County to consider developing credit facilities that will benefit the farmers and many low income earners. He said this will go a long way in assisting the greater population of residents of this country who are mainly small scale farmers and retail traders,” said Governor Ongwae.
NIC bank has been operating in Kisii County since 2013 as an asset Finance institution and now has grown to a fully pledged banking institution. It has opened six new branches this month, Kisii branch being the latest and largest of all.
For the few moths that the bank has been in operation, it has attracted large deposits and borrowing in similar measure.
“I assure the bank investors and our clients that NIC bank is based on a sound Asset base and is following very high compliance guidelines hence, ensuring the safety of our savers,” said Mr. Fred Mbiru , the Vice Chairman of NIC bank.
The Governor was franked by his deputy, Hon. Joash Maangi, Nyaribari Chache MP Richard Tongi, H.E Mrs. Elizabeth Ongwae, NIC Group General Manager John Gachora, NIC Chairman Fred Mbiru among other leaders.
