SBM Bank Expands With New Branch in Nanyuki

SBM Bank Kenya on Friday expanded its presence in the country by opening its 34th branch in Nanyuki, as the lender builds on strong half-year results.

According to the bank, the new branch is strategically located in Laikipia County to serve the conservancy economy, which includes Ol Pejeta, Lewa, Borana and Loisaba, as well as high-end tourism lodges.

Speaking at the launch, SBM Bank Kenya CEO Bhartesh Shah said, "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."

He added, "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."

The branch also targets the large scale flower and horticulture exporters, the British Army Training Unit Kenya (BATUK), and a growing pool of SMEs, real estate developers and agribusinesses in Nanyuki and Timau.

Laikipia Governor Joshua Irungu, who was in attendance, noted that Laikipia's economy has been thriving, opening up sectors for investment by the private sector.

The Nanyuki branch follows another branch in Kilifi that was opened in July 2025.

Also Read: SBM Bank Records 171% Growth in Profit to Ksh548 Million in H1 2026

The expansion comes on the back of strong half-year 2026 results, with profit before tax rising 171.3% to Ksh548 million, while net profit after tax climbed 88.2% to Ksh380.2 million. Operating profit nearly quadrupled, rising 279% to Ksh852 million.

According to the bank, customer deposits grew 24% to Ksh94 billion, while net loans and advances rose 18% to Ksh54.1 billion, taking total assets to Ksh109.9 billion, up from Ksh105.7 billion at the end of December 2025.

The company also reported that asset quality improved, with the gross non-performing loan ratio nearly halving to 17.3% from 32.4% a year earlier, while shareholders' equity strengthened to Ksh11.1 billion.

Also read: What SBM Bank Kenya’s Turnaround Tells Us About the Future of Banking

The upswing in profits has continued over the last two years, with CEO Shah attributing the growth to several factors, including significant investment in technology, operational resilience and customer experience.

In the half year to June 2026, the bank successfully upgraded its core banking platform to Oracle FLEXCUBE 14.8, making SBM Bank Kenya the first bank globally to go live on this version. The upgrade has enhanced system performance, resilience, security and scalability, providing a stronger technology foundation for continued innovation and future growth.

The bank has also continued developing the Busara Kids Banking App, growing the SBM Loyalty Programme and offering free PesaLink transfers of up to Ksh1 million through the Mfukoni mobile and online banking platforms as it seeks to boost revenues.

"Our ambition is to build one of Kenya's most trusted and responsive banks, combining financial strength with speed of execution, disciplined governance with innovation, and international capability with deep local understanding. We are building an institution that customers can rely on, employees are proud to serve, shareholders can invest in with confidence, and that plays an increasingly important role in Kenya's economic development," Shah previously said.