SBM Bank Kenya has spread its wings to cover the Mt. Kenya region with the grand opening of its 34th branch in Nanyuki.
The financial institution aims to claw the rich potential customers in the fields of businesses, farms, conservancies, pastoral communities, tourism, construction and the residents in the expansive Laikipia County.
The new branch, located at Peak Place Building in Nanyuki Town, is expected to strengthen access to credit, transactional banking and tailored financial services in a region whose economy is driven by tourism, agriculture, horticulture, agribusiness and a growing small and medium-sized enterprise sector.
Speaking during the launch, Laikipia Governor, Joshua Irungu, said the region offers significant opportunities for private-sector investment across agribusiness, tourism, real estate and manufacturing.
“Laikipia’s economy has thriving sectors that create a perfect investment environment, especially for the private sector,” Irungu said, urging businesses to explore the opportunities available in the region.
“I take this opportunity to invite the private sector to take a serious look at what our region has to offer,” said Irungu.
The County Boss said the Laikipia’s economy is anchored by major wildlife conservancies, including Ol-Pejeta, Lewa, Borana and Loisaba, alongside high-end tourism facilities, flower and horticulture exporters, real estate developers and the British Army Training Unit Kenya (BATUK).
He said the County government was ready to partner with the private sector to drive the region’s growth and development, noting that opportunities abound in agribusiness, tourism, real estate and manufacturing.
“The potential here is enormous, and we are ready to work with partners who share our ambition for this great region,” he said.
SBM Bank said the new branch seeks to address a longstanding gap that has forced businesses and residents in Laikipia County to travel outside the County to access banking services.
The Bank said the situation had constrained access to credit for entrepreneurs, day-to-day transactional banking and tailored financial services despite the region’s contribution to Kenya’s tourism and agricultural exports.
The Nanyuki Branch will serve conservancies, horticulture and flower exporters, SMEs, farmers and institutional customers, combining in-person advisory services with the bank’s digital banking platforms.
SBM Bank Kenya Chief Executive Officer, Bhartesh Shah, said Nanyuki was a strategic market for the bank’s growth plans.
“Nanyuki is exactly the kind of market our strategy is built for. The region is a high-growth economy where relationship banking and digital convenience should work together,” Shah said.
He added that the Branch was part of a broader expansion strategy to bring banking closer to our customers, saying the bank was using its growing financial strength to support its expansion ambitions.
“We are determined to bring banking closer to our customers at a time when our own numbers show the model is working. This Branch is not a one-off activity; it is proof that we can back our growth ambitions with a strong balance sheet,” said SBM Bank Kenya CEO, Bhartesh Shah.
The Branch opening comes shortly after SBM Bank reported strong financial results for the six months ended 30 June 2026.
The Bank’s profit before tax increased by 171.3 per cent to Sh548 million, while net profit after tax rose by 88.2 per cent to Sh380.2 million. Operating profit nearly quadrupled, increasing by 279 per cent to Sh852 million.
Customer deposits grew by 24 per cent to Sh94 billion, while net loans and advances increased by 18 per cent to Sh54.1 billion. Total assets stood at Sh109.9 billion, up from Sh105.7 billion at the end of December 2025.
The Bank also reported an improvement in asset quality, with its gross non-performing loan ratio falling to 17.3 per cent from 32.4 per cent a year earlier. Shareholders’ equity increased to KSh11.1 billion.
The Nanyuki outlet is SBM Bank Kenya’s newest branch since the opening of its Kilifi Branch in July 2025.
The expansion brings the Bank’s nationwide branch network to 34 outlets and reflects its strategy of increasing its presence in emerging commercial hubs beyond Kenya’s largest cities.
Since entering the Kenyan market in 2017, the Bank has continued to expand its services through an extensive ATM network, mobile and online banking platforms, and a 24-hour contact centre serving retail, SME and corporate clients.
By Ian Chepkuto and Muturi Mwangi
