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:– Encourage thrift and inculcate savings habits

among Kenyans,– Provide affordable savings facilities and

instruments,– Pool personal savings for national

development.

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 and effective customer service, and to the satisfaction of all stakeholders.”

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

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.

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

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.

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.