Rebranding is a common culture amongst businesses in Kenya. While the choice to do so might vary towards repositioning one’s brand, evolution of customer behavior, brand makeover, leadership changes hands or mergers & acquisitions, it ultimately boils down to creating a lasting brand.
Below we look at some of the Kenyan banks that opted to rebrand for one reason or the other.
1.SIDIAN ( FORMERLY KREP )
Sidian bank is a full-service commercial bank providing an array of financial services to individuals and enterprises established in 1984 as K-REP bank.
The services offered include: personal banking ( current accounts, savings accounts, personal loans & digital banking ) Business ( trade finance, microbanking, corporate banking & SME ) , Funds transfer ( MoneyGram, SidianVibe, & Western Union )
In 2014, it became a subsidiary of Centum after the latter acquired a majority shareholding and as a result in 2016, it rebranded to Sidian bank.
Sidian bank has embraced mobile banking via the sidian vibe app
Sidian Bank Head Office,
K-Rep Centre,Wood Avenue, Kilimani,
P.O. Box 25363-00603,
Email: [email protected]
Tel : (+254)020-3906000
Mobile : (+254)0711-058000,(+254)0732-158000
2.ABSA ( FORMERLY BARCLAYS )
Barclays bank was founded in 1916 and as at now it maintains a network of 121+ branches and 240+ ATMs across Kenya.
The services offered include: Personal banking ( current, premier, credit cards ) Business banking ( prepaid, credit & merchant services ) , corporate ( transactional, corporate finance, cross border solutions, market & insurance ) and islamic banking.
In 2017, Barclays PLC reduced its shareholding in Barclays Africa Group Limited from 62.3% to 14.9% meaning that although Barclays PLC remains a partner and shareholder, they can’t legally use the name “Barclays” after 2020 thereby resulting it to rebrand to Absa.
Barclays has embraced mobile banking through the Timiza app
Barclays bank of Kenya
Barclays Westend Building,
Email: [email protected]
Tel: (+254) 20-4254000
3.SPIRE BANK ( EQUITORIAL COMMERCIAL BANK )
Spire bank was founded in 1983 as Equitorial commercial bank and currently has 12 branches in Kenya.
The services offered include: personal, business ( chama & savings) and insurance ( corporate & personal )
In 2010, ECB merged with Southern Credit Banking Corporation creating a new enlarged bank under the Equatorial Commercial Bank brand. The merger gave ECB critical mass to further develop & grow in a dynamic & competitive market place and in 2016 ECB rebranded to Spire Bank.
Spire bank has embraced mobile banking through the Spire GoMobile app
Mwalimu Towers, Hill Lane, Upper Hill
P.O. Box 52467 – 00200, Nairobi
Phone: +254(20) 4981777
Phone: 0703 047777
E-Mail: [email protected]
Web Site: spirebank.co.ke
4.SBM BANK ( FIDELITY )
Fidelity bank was founded in 1988 and currently has around 30 branches in Kenya.
The bank’s services include: loans, savings, investment, checking, investments, debit & credit cards.
In 2016, the state bank of Mauritius ( SBM ) acquired a majority stake in Fidelity bank and as a result, the bank’s name was changed to SBM Kenya.
SBM bank has embraced mobile banking through Mfukoni app