SBM Bank Targets Nanyuki Businesses With New Branch

SBM Bank Kenya is expanding its presence outside Nairobi with the opening of a new branch in Nanyuki, Laikipia County, as the lender seeks to tap into the town’s growing business and tourism economy.

The Nanyuki outlet, located at Peak Place Building, is the bank’s 34th branch in Kenya and will serve individuals, businesses and institutions operating across Laikipia and surrounding areas.

The lender is targeting sectors that are central to the local economy, including tourism, agriculture, horticulture, real estate and small and medium-sized enterprises.

Nanyuki has also emerged as an important commercial centre for the region, supported by its proximity to major wildlife conservancies and tourism facilities. SBM Bank said it will seek business from conservancies such as Ol Pejeta, Lewa, Borana and Loisaba, as well as tourism lodges, horticulture exporters, agribusinesses and property developers.

The bank is also looking to serve businesses linked to the British Army Training Unit Kenya, commonly known as BATUK, alongside SMEs and other institutional customers in Nanyuki and Timau.

SBM Bank Kenya Chief Executive Officer Bhartesh Shah said the expansion was part of the lender’s wider growth strategy.

“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 new outlet would allow the bank to bring services closer to customers while supporting its plans to expand its business.

The branch will provide conventional banking and advisory services, and customers will also be able to access the bank’s digital platforms for transactions and other services.

The expansion comes at a time when SBM Bank is reporting stronger financial performance. Its profit before tax increased by 171.3 per cent to Ksh 548 million in the six months ended June 30, 2026, from Ksh 202 million in the same period last year.

Operating profit rose by 279 per cent to Ksh 852 million, while customer deposits increased by 24 per cent to Ksh 94 billion. Net loans and advances also grew by 18 per cent to Ksh 54.1 billion.

The lender’s net profit rose by 88.2 per cent to Ksh 380.2 million during the period, while total assets increased to Ksh 109.9 billion from Ksh 105.7 billion at the end of December 2025.

SBM also recorded an improvement in the quality of its loan book, with its gross non-performing loan ratio falling to 17.3 per cent from 32.4 per cent a year earlier.

Shah said the bank’s recent performance reflected efforts to strengthen its balance sheet, improve risk management and build stronger relationships with customers.

The move into Nanyuki therefore allows SBM to turn that financial growth into a wider physical presence, particularly in a county where agriculture, tourism and property continue to drive economic activity.

Laikipia Governor Joshua Irungu welcomed the investment, saying the county offered significant opportunities for private-sector businesses.

“Laikipia’s economy has thriving sectors that create a perfect investment environment, especially for the private sector,” Irungu said.

He cited agribusiness, tourism, real estate and manufacturing as some of the areas where investors could find opportunities, adding that the county government was ready to work with private-sector partners.

The Nanyuki branch is expected to give residents and businesses access to relationship managers and banking services closer to where they operate, while digital banking will continue to support customers who prefer to transact remotely.

For SBM, the expansion also comes as the bank works to grow its customer base and increase lending after recording stronger deposits and loan growth in the first half of the year.