Sidian Bank has launched its 43rd branch in Kamakis, Ruiru, Kiambu County, along the Eastern Bypass.
The lender says that the branch is a step further in offering custom-made solutions to the bank’s growing customers.
“Sidian Bank is well recognized as an SME bank of choice, providing tailormade solutions for businesses and entrepreneurs. Despite being a digital-first institution, we felt the need to extend our physical reach and support businesses in the Eastern bypass, Thika road and Ruiru areas. All this is geared towards offering our customers an unmatched banking experience by offering solutions not limited to trade finance, lending, robust digital banking services, enabling the Bank to remain in touch with its customers’ needs,” said Chege Thumbi, Chief Executive Officer Sidian Bank.
“This is part of a greater expansion that will enable us to reach a wider market and grow our customer base and serve customers closer to their businesses, saving them commute time and money, allowing them to focus on what matters most; their business.”
Noting that convenience and accessibility to financial services is at the heart of the Bank, Chege Thumbi assured that the Bank will continue to offer innovative solutions to its customers that will enable them own their tomorrow.
“I am delighted with the direction the Bank is taking towards its expansion in offering financial solutions to entrepreneurs. Sidian Bank is a customer-oriented bank that aims to support businesses as they move from one level to another. Together with the Board of Sidian Bank, we are pleased with this decision to expand market presence,” said Dr James Mworia, Chairman Sidian Bank Board.
“Sidian Bank has maintained a growth trajectory over the past few quarters and through widening its branch network, will contribute to increased performance in the days ahead. We are confident in the bank’s mission of offering tailored and targeted business solutions to support businesses and customers.”
In January, FMO and Sidian Bank signed a Ksh1.65 billion ($15 million) NASIRA loan portfolio guarantee aimed at providing financing to MSMEs affected by COVID-19 in Kenya.
A minimum of 30% of the total guarantee facility would be allocated specifically to young and female entrepreneurs. The guarantee will be provided in a Kenyan shilling equivalent.
The NASIRA program is a risk-sharing facility for local financial institutions, supported by the European Union and MASSIF, the financial inclusion fund FMO manages on behalf of the Dutch government. It is a new way of unlocking support to underserved segments: youth, women and COVID-19 affected entrepreneurs.