National Bank of Kenya (NBK) is working on plans to launch mobile loans services via its mobile platform – Nat625 – as the banks takes advantage of its technology deployment to drive the on-going transformation program.
Nat625 is a mobile-based account that allows you to save your money while earning an attractive interest each month. The account is opened instantly by simply dialing *625# and you get your account number in just a few minutes.
The Nat625 platform offers several benefits to NBK’s account holders. Some of these are that it enables one to open and operate the account from wherever the person is; there is no need to go to a branch or fill out forms; the user does not have to be an existing customer; once the account is open, one can view the balance, get a mini statement and transfer cash; one is able to load the account easily from M-Pesa using the NBK paybill number 625625 and can purchase airtime directly from the account. Additionally, Nat625 allows those using the platform to make school fees payments directly from their account while the savings can earn up to 5.5 per cent interest per annum based on the balance.
In 2015, NBK registered a 3.3 per cent growth in net loans and advances to Kshs 67.8 billion and increased customers’ deposits by Kshs 5.6 billion to Kshs 110.6 billion while Assets grew from 123 billion to Kshs 125 billion. The bank’s total revenue from operations remained steady at Kshs 9.55 billion in 2015 despite the bank reporting a loss of Kshs 1.15 billion according to a statement issued by the bank after its AGM held last week.
Apart from the Nat625 mobile banking platform, NBK currently has 123 ATMs across the country as well as an internet banking platform. National Bank participates in Corporate Banking, Business Banking, Retail Banking and Islamic Banking with an extensive portfolio of products and financial solutions tailored for the requirements of a broad spectrum of customer segments it serves.