SBM Bank Kenya on Thursday launched its 34th branch in Nanyuki Town, located at Peak Place Building, as it moves to strengthen its presence in Kenya’s growing commercial centres.
Speaking during the launch, Laikipia Governor Joshua Irungu said the county’s diverse economy offered significant opportunities for private-sector investment.
“Laikipia’s economy is pegged on thriving sectors, creating 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. 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,” said Governor Irungu.
The launch comes as businesses and residents in Laikipia seek greater access to full-service and relationship-led banking within the county. The new branch will provide conservancies, flower and horticulture exporters, SMEs, farmers and institutional customers with local banking services, including in-person advisory support and digital banking solutions.
SBM Bank Kenya Chief Executive Officer Bhartesh Shah said Nanyuki was a strategic market for the bank’s expansion 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 supported by the bank’s improving financial performance.
The new branch is expected to serve the wider Laikipia region, whose economy is anchored by the Mt Kenya conservancy ecosystem, including Ol Pejeta, Lewa, Borana and Loisaba, as well as high-end tourism, large-scale flower and horticulture exports, the British Army Training Unit Kenya (BATUK), SMEs, real estate and agribusiness.
The expansion follows SBM Bank Kenya’s financial results for the six months ended June 30, 2026, which recorded strong growth in earnings.
Profit before tax increased by 171.3 per cent to KSh548 million, while net profit after tax rose 88.2 per cent to KSh380.2 million. Operating profit nearly quadrupled, increasing by 279 per cent to KSh852 million.
Customer deposits grew by 24 per cent to KSh94 billion, while net loans and advances increased by 18 per cent to KSh54.1 billion. Total assets stood at KSh109.9 billion, up from KSh105.7 billion at the end of December 2025.
The bank also reported an improvement in asset quality, with the 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 bank now operates a network of 34 branches across the country, as it seeks to deepen its market presence and improve access to banking services in emerging commercial hubs beyond Kenya’s major urban centres.
