SBM Bank Kenya has launched its 34th branch in Nanyuki Town at Peak Place Building, marking a significant expansion into the Mt. Kenya region and bringing full-service banking closer to an economy that has long had to travel outside the county for financial services.
The Laikipia region is home to a diverse and growing economic base, including major conservancies such as Ol Pejeta, Lewa, Borana, and Loisaba, high-end tourism lodges, large-scale flower and horticulture exporters, the British Army Training Unit Kenya (BATUK), and a rising pool of SMEs, real estate developers, and agribusinesses in Nanyuki and Timau.
Despite driving a significant share of Kenya’s tourism and agricultural exports, businesses and residents in the region have historically been underserved, forced to travel out of the county for relationship-led and full-service banking.
Laikipia County Governor Joshua Irungu welcomed the move, urging more private sector players to take note of the region’s potential.
“Laikipia’s economy has thriving sectors that create a perfect investment environment, especially for the private sector. 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 said.
SBM Bank Kenya CEO Bhartesh Shah said the Nanyuki branch was a deliberate strategic choice, not a one-off activity.
“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. This branch is not a one-off activity, it is proof that we can back our growth ambitions with a strong balance sheet,” he said.
The launch comes on the back of the bank’s strongest financial performance in recent years.
For the six months ended June 30, 2026, SBM Bank Kenya reported profit before tax rising 171.3 percent to Ksh 548 million, net profit after tax climbing 88.2 percent to Ksh 380.2 million, and operating profit nearly quadrupling by 279 percent to Ksh 852 million.
Customer deposits grew 24 percent to Ksh 94 billion, net loans and advances rose 18 percent to Ksh 54.1 billion, and total assets reached Ksh 109.9 billion.
Asset quality also improved significantly, with the gross non-performing loan ratio nearly halving to 17.3 percent from 32.4 percent a year earlier.
The Nanyuki branch is SBM’s first new outlet since it opened in Kilifi in July 2025, and forms part of a deliberate strategy to deepen market penetration and improve accessibility in emerging commercial hubs beyond Kenya’s major urban centres.
