From left, SBM Bank Kenya C.E.O Bhartesh Shah, Laikipia Governor Joshua Irungu, and Nyeri Catholic Archbishop Antony Muheria during the official opening of SBM Bank Kenya's 34th BranchSBM Bank Kenya has opened its 34th branch in Nanyuki, Laikipia County, as it expands its presence in emerging commercial centres and seeks to bring banking services closer to businesses and residents.
The new branch is located at Peak Place Building in Nanyuki Town. It is expected to serve customers across the Laikipia region, including conservancies, horticulture exporters, farmers, small and medium-sized enterprises, and institutional customers.
Laikipia’s economy is built around a range of sectors, including conservancy activities at Ol Pejeta, Lewa, Borana and Loisaba, high-end tourism lodges, large-scale flower and horticulture exporters, the British Army Training Unit Kenya (BATUK), SMEs, real estate developers and agribusinesses in Nanyuki and Timau.
Speaking during the branch launch, Laikipia Governor Joshua Irungu said the region offered significant opportunities for private-sector investment.
“Laikipia's economy has thriving sectors that create a perfect investment environment, especially for the private sector,” Irungu said.
He invited private-sector players to explore opportunities in the region, citing agribusiness, tourism, real estate and manufacturing.
“I take this opportunity to invite the private sector to take a serious look at what our region has to offer,” he 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.”
The bank said businesses and residents in Laikipia have had to travel outside the county for full-service and relationship-led banking services.
It said the gap had affected access to credit for entrepreneurs, day-to-day transactional banking and tailored financial services, despite the region’s contribution to tourism and agricultural exports.
The Nanyuki branch is intended to address the gap by providing a local banking partner supported by in-person advisory services and digital banking options.
SBM Bank Kenya chief executive officer Bhartesh Shah said Nanyuki fitted the bank’s expansion strategy because of the region’s growth potential.
“Nanyuki is exactly the kind of market our strategy is built for,” Shah said.
He said the bank wanted to combine relationship banking with digital services as it expanded its customer base.
“The region is a high-growth economy where relationship banking and digital convenience should work together,” Shah said.
Shah said the expansion was also supported by the bank’s financial performance.
“We are determined to bring banking closer to our customers at a time when our own numbers show the model is working,” he said.
The branch opening follows SBM Bank’s financial results for the six months ended June 30, 2026.
The bank reported a 171.3 per cent increase in profit before tax to Sh548 million. Net profit after tax rose 88.2 per cent to Sh380.2 million, while operating profit increased 279 per cent to Sh852 million.
From left, Laikipia Governor Joshua Irungu, SBM Bank Kenya C.E.O Bhartesh Shah, and Nyeri Catholic Archbishop Antony Muheria during the official opening of SBM Bank Kenya's 34th Branch
Customer deposits grew 24 per cent to Sh94 billion, while net loans and advances increased 18 per cent to Sh54.1 billion. Total assets stood at KSh109.9 billion, up from Sh105.7 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 rose to Sh11.1 billion.
The Nanyuki outlet is SBM Bank’s newest branch since the opening of its Kilifi branch in July 2025.
The bank now has 34 branches nationwide as it seeks to deepen its reach in emerging commercial hubs beyond Kenya’s major urban centres.
