By Njeri Irungu.
SBM Bank Kenya has expanded its footprint into the Mt. Kenya region with the opening of its 34th branch in Nanyuki, a move aimed at bringing banking services closer to businesses, investors and residents in Laikipia County.
The new branch, located at Peak Place Building in Nanyuki Town, was officially opened on Thursday, August 20, 2026, as the bank seeks to deepen its presence in emerging economic hubs across the country.
The expansion comes as Laikipia continues to attract investment across tourism, agriculture, horticulture, livestock production, real estate and small and medium-sized enterprises, with the region also hosting major conservancies including Ol Pejeta, Lewa, Borana and Loisaba.
The area is also home to high-end tourism facilities, large-scale flower and horticulture exporters, the British Army Training Unit Kenya (BATUK), as well as a growing number of SMEs and agribusinesses in Nanyuki and Timau.
Speaking during the launch, Laikipia Governor Joshua Irungu said the county’s growing economy presented significant opportunities for private-sector investment, particularly in agribusiness, tourism, real estate and manufacturing.
Irungu said the county government was committed to creating a conducive environment for investors and welcomed SBM Bank’s decision to establish a presence in the region.
He said the arrival of the bank would provide businesses with an environment where they could engage directly with financial institutions, explore opportunities and access services that could support their growth.
SBM Bank Kenya Chief Executive Officer Bhartesh Shah said Nanyuki was selected following an assessment of economic activity and growth potential in different parts of the country.
Shah said Laikipia stood out because of the economic activity taking place in the region, adding that Nanyuki’s growth was closely aligned with the bank’s strategy of selectively expanding its network to key economic hubs.
He said SBM was not seeking to establish hundreds of branches but would instead identify strategic locations where physical banking infrastructure could complement its digital services.
According to Shah, the bank was also redesigning and relocating some of its existing branches to reflect the changing role of physical banking outlets, which he said were increasingly becoming spaces for financial conversations and advisory services rather than simply transaction points.
The Nanyuki expansion comes shortly after SBM Bank reported strong financial performance for the six months ended June 30, 2026, with profit before tax rising by 171.3 percent to KSh548 million.
Net profit after tax increased by 88.2 percent to KSh380.2 million, while operating profit rose by 279 percent to KSh852 million. Customer deposits grew by 24 percent to KSh94 billion, while net loans and advances increased by 18 percent to KSh54.1 billion.
Shah said the improved financial position had given the bank a stronger foundation to enter what he described as its next phase of growth, including selective investment in its distribution network.
He added that customers in Nanyuki and the wider Mt. Kenya region would also benefit from the bank’s digital capabilities, following its recent upgrade to the latest version of the Oracle Flexcube core banking system.
Shah said the bank’s focus would extend beyond technology to customer service, flexibility and faster decision-making, which he described as key areas through which SBM seeks to distinguish itself in the market.
Archbishop Anthony Muheria of the Archdiocese of Nyeri, which covers Nyeri and Laikipia counties, welcomed the new branch, saying improved access to financial services could create opportunities for investment and business growth.
Muheria challenged the bank to look beyond conventional banking and develop initiatives targeting young people, persons with disabilities and other groups that have traditionally had limited access to financial opportunities.
He said Laikipia had significant untapped potential among young people leaving colleges and universities with skills, urging financial institutions to help turn that potential into economic opportunities.
Governor Irungu, meanwhile, said Laikipia’s traditional strengths in livestock and food production could be complemented by new investments as the county seeks to diversify its economy. He cited the county’s beef and cereal production, as well as improving infrastructure and a growing investment environment, as factors that could attract more businesses.
The governor also encouraged investors to consider Laikipia, describing the county as an increasingly accessible and welcoming destination for businesses. He said improvements in roads, security, water supply and other services were creating a stronger foundation for investment.
The Nanyuki outlet is SBM Bank Kenya’s newest branch since the opening of its Kilifi branch in July 2025, bringing its nationwide branch network to 34. Since entering the Kenyan market in 2017, the bank has expanded its physical and digital channels while serving retail, SME and corporate customers.
The bank said the Nanyuki branch forms part of a broader strategy to improve accessibility in emerging commercial centres while combining physical banking with digital services and relationship-led support for customers.
