I&M Bank will over the weekend shut
down its branches as well as those of recently acquired Giro Commercial
Bank to merge operations of the two lenders.
The
takeover of Giro by I&M was completed last month following receipt
of regulatory approvals for a transaction that was first announced in
2015.
ALSO READ: I&M Holdings completes buyout of Giro Bank
“Following
the acquisition Giro, we would like to notify you that all I&M Bank
branches, including Ex-Giro branches will remain closed on Saturday,
April 1, 2017 and Sunday, April 2, 2017 to facilitate systems
integration,” said the bank in a statement to its customers. “During
this time our alternate banking channels (I-Click internet banking,
mobile banking and ATM network) will be available for your use. We
regret the inconvenience caused.” The notice says normal services shall
resume on Monday, April 3. Following the system integration, customers
will be able to transact seamlessly across all accounts and branches
under I&M brand.
Giro’s five branches were added to
I&M’s network of 36 branches after the acquisition. The ex-Giro
branches are Moi Avenue (Mombasa) and Naorobi’s Eldama Ravine Road
(Eldama Park), 3rd Parklands Road (Ridge Court), Industrial Area (Dunga
Road), and CBD (Banda Street).
Giro ceased to be a bank
on February 13, 2017 following its full buyout by I&M. All Giro
stakeholders including depositors, employees, and creditors continue
their relationship with I&M Bank.
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