From left: SBM Bank Kenya CEO Bhartesh Shah, Laikipia Governor Joshua Irungu and Nyeri Catholic Archbishop Anthony Muheria during the official opening of SBM Bank Kenya’s 34th branch in Nanyuki on Thursday, August 20, 2026.
By Peace Muthoka
NANYUKI, Kenya — August 20, 2026 — SBM Bank Kenya has expanded its presence in the Mt Kenya region with the opening of its 34th branch in Nanyuki, strengthening access to banking services for businesses, farmers and residents in Laikipia County.
The new branch, located at Peak Place Building in Nanyuki Town, is expected to serve a diverse and growing economy driven by tourism, conservation, agriculture, horticulture and small and medium-sized enterprises.
Laikipia has emerged as an important commercial hub, supported by major conservancies such as Ol Pejeta, Lewa, Borana and Loisaba, as well as high-end tourism lodges, large-scale flower and horticulture exporters and the British Army Training Unit Kenya (BATUK). The region has also attracted growing investments in agribusiness, real estate and other enterprises, particularly in Nanyuki and Timau.
Speaking during the launch, Laikipia Governor Joshua Irungu said the county’s diverse economic base had created a favourable environment for investment, particularly by the private sector.
“Laikipia’s economy is pegged on thriving sectors creating a perfect investment environment, especially for the private sector,” Irungu said.
He urged more private-sector players to explore opportunities in the county, noting that agribusiness, tourism, real estate and manufacturing offered significant potential.
“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,” he added.
The new branch is also expected to address a longstanding gap in access to full-service and relationship-led banking in Laikipia. Previously, some businesses and residents had to travel outside the county to access specialised banking services, limiting their access to credit, transactional banking and tailored financial solutions.
With the Nanyuki outlet, SBM Bank will provide conservancies, horticulture and flower exporters, farmers, SMEs and institutional customers with local banking support, complemented by in-person advisory services and digital banking solutions.
SBM Bank Kenya Chief Executive Officer Bhartesh Shah said the expansion was part of the lender’s strategy to bring its services closer to customers in high-growth markets.
“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 opening of the branch reflected the bank’s growing financial strength and its confidence in expanding its operations beyond Kenya’s traditional urban centres.
“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,” Shah said.
The expansion comes as SBM Bank reports strong financial performance in the first half of 2026. For the six months ended June 30, the bank’s 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. At the same time, customer deposits grew by 24 per cent to KSh94 billion, while net loans and advances rose 18 per cent to KSh54.1 billion.
The bank’s total assets stood at KSh109.9 billion, up from KSh105.7 billion at the end of December 2025. Asset quality also improved, 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 branch is SBM Bank’s latest outlet since the opening of its Kilifi branch in July 2025. With the latest expansion, the bank now has 34 branches across the country.
The lender says the continued expansion is aimed at deepening its reach and improving access to financial services in emerging commercial centres, while combining physical branches with digital banking solutions to meet the changing needs of its customers.
