Citibank Kenya has announced plans to end physical operations at its Mombasa branch from November 30, 2026, as the bank consolidates its corporate banking services at its Nairobi headquarters.
In a notice seen on August 26, Citibank Kenya said the move is part of an ongoing strategy to optimize its corporate banking network while expanding digital banking services.
The bank said the transition has received all required regulatory approvals and will not affect the availability or continuity of its products and services.
“Effective November 30, 2026, Citibank, N.A. Kenya (“Citi Kenya”) will consolidate Its physical operations and manage all corporate banking services from its Nairobi headquarters.
This strategic optimization of our corporate banking network is part of Citi Kenya’s ongoing commitment to modernizing and digitizing banking services and has received all required regulatory approvals,” reads part of the notice.
Citi Kenya Explains Decision to Close Mombasa Branch
According to the notice, customers will continue accessing Citi Kenya’s institutional banking services through CitiDirect and other electronic banking platforms.
The bank also said relationship managers and client service teams will remain available to support customers during and after the transition.
Citibank Kenya maintained that it remains a fully licensed banking institution in Kenya and will continue serving the local market from its Nairobi headquarters.
The bank advised clients seeking further information about the transition to contact its client service team or their relationship managers.
The Kenya Times reached out to Citibank Kenya for comment on the planned closure. However, as of the time of publication, the bank had not responded to our inquiries.
About the Bank
Citibank, N.A. Kenya is a subsidiary of Citigroup, Inc., the US-based financial services company headquartered in New York.
The bank has operated in Kenya since 1974, providing banking services to corporate clients, financial institutions, and public sector entities.
Globally, Citigroup operates across 95 countries and territories and serves clients in nearly 160 countries and jurisdictions.
Citibank, N.A. Kenya Branch is 100 percent owned by Citicorp, which is its direct parent company. Citicorp is a US-incorporated bank holding company.
The ultimate parent of Citicorp is Citigroup, Inc., a publicly traded company listed on the New York Stock Exchange.
The Kenyan branch has one corporate shareholder, Citicorp, which holds the entire 100 percent ownership. There are no individual shareholders.
The bank is also entirely foreign-owned, with no local ownership. All its ownership is held through corporate entities based in the United States, namely Citicorp and its ultimate parent, Citigroup, Inc.
It is also a leading provider of corporate credit products, structured term loans, working capital financing, and project finance tailored to top-tier corporates, governments, and institutional clients. They also have competitive base lending rates (around 19% as of mid‑2025) for these loan products.
Follow our and X Account for real-time news updates.
Comments
No comments yet. Be the first to share your thoughts.