ECB rebrands to Spire Bank after Mwalimu Sacco takeover

Equatorial Commercial Bank has rebranded to Spire Bank and announced plans to review its business units operations as it targets to move from tier-three to tier-two in five years.

Spire Bank managing director Tim Gitonga said the bank will focus on retail, SME and corporate banking products over the next three years supported by technology.

“As part of delivering on our new brand promise, we have adopted new approaches to managing our business by focusing on technology, people and processes as our focal pillars for growth,” he said.

ECB, which was acquired by the largest Sacco in Africa, Mwalimu Savings and Credit Cooperative Society earlier this year, plans to roll out a new core banking system by this year to support the development of additional banking products.

The bank, which was established in 1983, plans to refocus its bank’s branches into sales and service centres, as it moves to reduce operational costs, improve customer interaction and develop new business opportunities.

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