King G wrote:youcan'tstopusnow wrote:
"Agents (transcations) will overtake bank branches by Dec and overtake ATMs by June 2013," Mwangi said.
Is this possible and how? how come i dont see this agents or they are doing good business in the rural set-up
Agency banking is big. Sample this from @kenyainvestor's half year report. Note the industry growth since last year:
"Nearly a quarter of banks in the country have now undertaken agency banking.
As at the end of June 2012, 10 banks had contracted 12,054 agents compared to 6 banks that had contracted
6,513 agents during the first half of 2011. This is an 85% rise in the number of agents
compared to the branch
network by 94 branches or 8.5% to 1,196.
During its half year results presentation, Equity Bank announced that it had more than doubled its number of
agents to 5,004 from 2300.
Their agents now handle 24% of bank transactions, up from 8%, with the C.E.O Dr. James Mwangi projecting that agencies will overtake branches in terms of transactions and volume of money, though he did not give a specific timeframe.
CBK said that at the end of June, the agency network facilitated 18.7 Million transactions valued at Kshs. 93 Billion"
http://www.kenyainvestin...ort-top-5_1174.html?m=1
GOD BLESS YOUR LIFE