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PROFILE KENYA POST OFFICE SAVINGS BANK (POSTBANK) KENYA

PROFILE KENYA POST OFFICE SAVINGS BANK (POSTBANK) KENYA. HISTORICAL BACKGROUND. Savings services started in 1910, operated under the postal services provider Postbank was incorporated in 1978 under the KPOSB Act CAP 493 B of the laws of Kenya. MANDATE OF THE BANK. To:

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PROFILE KENYA POST OFFICE SAVINGS BANK (POSTBANK) KENYA

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  1. PROFILE KENYA POST OFFICE SAVINGS BANK (POSTBANK) KENYA

  2. HISTORICAL BACKGROUND • Savings services started in 1910, operated under the postal services provider • Postbank was incorporated in 1978 under the KPOSB Act CAP 493 B of the laws of Kenya

  3. MANDATE OF THE BANK • To: • Encourage thrift and inculcate savings habits among Kenyans, • Provide affordable savings facilities and instruments, • Pool personal savings for national development.

  4. VISION AND MISSION OF THE BANK • “To be the leading savings and Micro-finance bank in Kenya.” • “ To sustainably provide savings and other financial services to our customers, through a countrywide branch network, by use of modern technology in delivery of efficient andeffective customer service, and to the satisfaction of all stakeholders.”

  5. POSTBANK’S PRODUCT RANGE • Ordinary Savings Scheme - 1910 • Premium Bonds - 1978 • Save As You Earn - 1981 • Fixed Deposit Scheme - 1983 • Premium Savings Account - 1991 • Postbank Visa Credit Card - 1995 • Money Transfer Services - 1995 • Bidii Savings Account - 2000

  6. THE BANK’S ROLE IN SAVINGS MOBILISATION • The bank provides savings facilities through a wide range of products tailored to meet different customers needs. • These products are offered to a large clientele operating over 2.1 million active accounts. • The savings products are offered through a network of 453 outlets, comprising of 45 branches, 21 sub-branches and 387 Postal Corporation of Kenya agency and sub agency outlets, spread country-wide.

  7. SAVINGS INCENTIVES • The wide branch network enables customers in both rural and urban areas to access financial services. • The expansive network also provide the infrastructure to channel financial services at minimal cost to the customers. • Portable passbook which is quite convenient to customers – especially rural households - shows balances and all transactions

  8. SAVINGS INCENTIVES (Cont..) • Affordable minimum amounts to open and operate accounts. • Easy access to savings. • Low and affordable charges • Quality personalized customer service encourage savings • A wide range of savings and payment products and services offers the customers flexible choices.

  9. SAVINGS INCENTIVES (Cont…) • Tax free interest on all earning account balances • Savings products/services linked to other benefits e.g Premium Savings Account and Visa Card • Savings education through print and electronic media, road shows, marketing campaigns targeting schools, colleges etc.

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