STANBIC Bank has opened a branch in Pader, bringing the number of its branches in the north to 14.
Before the branchâ€™s opening, residents had to move for more than two hours to access the bankâ€™s services in Lira, Gulu, Kitgum or Abim districts.
â€œWe are responding to the demand for more branches in this region because of the distance the people have to go in order to access banking services,â€ Phillip Odera, the Stanbic managing director, said during the branchâ€™s opening.
â€œThis is a potentially big market. Stanbic is committed to working together with the community to grow,â€ Odera added.
The branch manager, Moses Kasigaire, said the bank expects more than 1,000 new accounts in the next two to three months.
â€œEducating people about the services provided by the bank is one of the key strategies underway to mobilise people to save and take advantage of the services,â€ Kasigaire explained.
The bank aims at promoting a savings culture among the residents who are involved in economic activities like farming and trade.
Other potential users of the financial institution include civil servants in the district, the UPDF and the NGO workers.
Stanbic goes to Pader