Premier Bank sees growth with planned expansion in coast region

 

Premier Bank Kenya expects to continue with its investments into new branches in the coast region as tourism and business activities pick up.

Speaking in Mombasa County where the lender opened its latest outlet, chief executive Osman Dualle said the Mombasa City acts as the regional trade gateway with a growing commerce activities.

“The Kenyan economy continues to show remarkable resilience, thanks to the efforts of the government, businesses, and the people of Mombasa in particular. There is a gradual and steady growth in the county’s economy which is largely attributed to the trade and tourism sector due to the availability of ports to facilitate trade internally and externally as well as the county’s warm sandy beaches to facilitate tourism and entertainment,” said Osman.

The latest branch is Premier Bank’s 22nd outlet and 5th in the region with plans to open two more branches in Malindi and Lamu before the close of the year.

“The trade and tourism sector have also largely created opportunities for employment for the people of Mombasa, enabling them to contribute to the economic growth of Mombasa and Kenya as a whole,” he added.

The lender is also targeting to facilitate trade in the region through expert advice on Shari’ah compliant forex exchange rates for their business transactions.

“In the face of fluctuating forex markets, our treasury team stands steadfast, ensuring uninterrupted access to hard currency for our clients business needs. The bank offers Shari’ah compliant solutions to help our customers manage their currency risks through provision of a guarantee for forward currency transactions at an agreed-upon rate, without charging interest,” added Yahya Dahir, Head of Business, Premier Bank Kenya.

The bank currently offers foreign exchange services and provides remittances for over 126 international currencies.

By Ronald Owili