NAIROBI, Kenya, Aug 21 – SBM Bank Kenya has opened its 34th branch in Nanyuki Town, Laikipia County, as it targets businesses and individuals in the region.
The new branch is located at Peak Place Building in Nanyuki and will serve customers in Laikipia’s tourism, agriculture, real estate and SME sectors.
The lender plans to tap into the region’s conservancy economy, including Ol Pejeta, Lewa, Borana and Loisaba, as well as high-end tourism lodges, flower and horticulture exporters, the British Army Training Unit Kenya (BATUK), SMEs, real estate developers and agribusinesses in Nanyuki and Timau.
“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,” SBM Bank Kenya CEO Bhartesh Shah said.
“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,” he added.
SBM Bank said the new branch will address limited access to full-service and relationship-led banking in the region, where businesses and residents have previously had to travel outside the county for some banking services.
The branch will offer banking and advisory services to conservancies, horticulture exporters, SMEs, farmers and institutional customers, supported by digital banking services.
Laikipia Governor Joshua Irungu said the county’s diverse economy presents investment opportunities for the private sector.
“Laikipia’s economy has thriving sectors that create a perfect investment environment, especially for the private sector. I take this opportunity to invite the private sector to take a serious look at what our region has to offer,” Irungu said.
“From agribusiness and tourism to real estate and manufacturing, the potential here is enormous, and we are ready to work with partners who share our ambition for this region,” he added.
The branch opening comes after SBM Bank reported strong earnings growth for the six months ended June 30, 2026.
Profit before tax rose 171.3 percent to Sh548 million, while net profit increased 88.2 percent to Sh380.2 million.
Operating profit nearly quadrupled by 279 percent to Sh852 million, while customer deposits increased 24 percent to Sh94 billion.
Net loans and advances grew 18 percent to Sh54.1 billion, taking total assets to Sh109.9 billion from Sh105.7 billion at the end of December 2025.
Asset quality also improved, with the gross non-performing loan ratio falling to 17.3 percent from 32.4 percent a year earlier.
Shareholders’ equity strengthened to Sh11.1 billion during the period.
