SBM Bank Kenya has officially opened its 34th branch at Peak Place Building in Nanyuki Town, marking a strategic expansion into the Mt. Kenya commercial hub.

The launch addresses a major financial services gap across Laikipia County and its surroundings. Despite driving a substantial share of Kenya’s tourism and agricultural exports, local businesses and residents previously had to travel outside the county to access full-service, relationship-led corporate and retail banking.

The new Nanyuki outlet aims to serve the area’s diverse ecosystem, which includes world-renowned wildlife conservancies like Ol Pejeta, Lewa, Borana, and Loisaba, alongside high-end safari lodges, large-scale horticulture exporters and a burgeoning sector of real estate developers and SMEs.

Officiating the ceremony, Laikipia County Governor H.E. Joshua Irungu welcomed the lender’s entry into the local market. “Laikipia’s economy has thriving sectors that create a perfect investment environment, especially for the private sector,” said Governor Irungu. “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.”

SBM Bank Kenya Chief Executive Officer Bhartesh Shah emphasized that the expansion aligns directly with the bank’s long-term growth strategy. “Nanyuki is exactly the kind of market our strategy is built for,” Shah noted. “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.”

The physical expansion follows a strong financial performance for the lender. For the six months ended June 30, 2026, SBM Bank reported a 171.3% surge in profit before tax to Ksh. 548 million, while net profit after tax reached Ksh. 380.2 million. Total assets rose to Ksh. 109.9 billion, supported by a 24% growth in customer deposits to Ksh. 94 billion and an 18% increase in net loans and advances to Ksh. 54.1 billion. The bank also significantly improved its asset quality, cutting its gross non-performing loan ratio down to 17.3% from 32.4% a year earlier.

The Nanyuki location represents SBM Bank’s newest unit since opening its Kilifi branch in July 2025, continuing a deliberate effort to strengthen market penetration in emerging regional economies across Kenya.