SBM Bank Kenya has opened its 34th branch in Nanyuki, Laikipia County, expanding its physical footprint into the Mt. Kenya region as the lender targets the area’s growing agriculture, tourism, conservancy, real estate and SME economy.
The branch, located at Peak Place Building in Nanyuki Town, gives SBM a presence in a market anchored by major conservancies including Ol Pejeta, Lewa, Borana and Loisaba, as well as high-end tourism lodges, horticulture exporters, agribusinesses, real estate developers and SMEs operating across Nanyuki and Timau.
The lender is also positioning the branch to serve businesses and institutions connected to the British Army Training Unit Kenya (BATUK), alongside farmers, flower and horticulture exporters and other institutional customers in the region.
The expansion comes as SBM Bank moves to convert a sharp improvement in financial performance into balance-sheet growth and deeper customer acquisition outside Kenya’s largest urban centers.
For the six months ended June 30, 2026, SBM Bank Kenya reported a 171.3% increase in profit before tax to KSh548 million, from KSh202 million a year earlier. Net profit rose 88.2% to KSh380.2 million, while operating profit increased 279% to KSh852 million.
Customer deposits increased 24% to KSh94 billion, while net loans and advances grew 18% to KSh54.1 billion. Total assets stood at KSh109.9 billion at the end of June, compared with KSh105.7 billion in December 2025.
The bank also reported an improvement in asset quality, with its gross non-performing loan ratio falling to 17.3% from 32.4% a year earlier. Shareholders’ equity increased to KSh11.1 billion.
The Nanyuki expansion therefore comes at a point when SBM is showing greater capacity to lend and take on new customers, particularly in markets where businesses require relationship-based banking alongside digital services.
“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,” said SBM Bank Kenya CEO Bhartesh Shah.
“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.
Laikipia Governor Joshua Irungu said the region’s mix of agribusiness, tourism, real estate and manufacturing presents significant opportunities for private-sector investment.
“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,” Irungu said.
For SBM, the move also reflects a broader shift in Kenya’s banking industry, where lenders are continuing to add physical branches even as mobile and internet banking become more dominant. Physical branches are increasingly being used for relationship management, business acquisition and complex financial services rather than simply cash transactions.
The Nanyuki branch is SBM Bank Kenya’s first new outlet since it opened its Kilifi branch in July 2025, bringing the lender’s national branch network to 34. The expansion is aimed at improving access to banking services in emerging commercial centers while allowing the bank to build deeper relationships with businesses and institutions outside Nairobi and other major cities.
The strategy is also consistent with SBM’s focus on business development at branch level. The bank’s recruitment for the Nanyuki branch has emphasized business acquisition, customer growth, profitability and alignment with the lender’s wider strategy.
With deposits approaching KSh100 billion and its loan book expanding, SBM is entering the next phase of its Kenyan growth story with a stronger financial base. Nanyuki gives the lender access to a regional economy where tourism, conservation, horticulture, agriculture and property development generate demand for both conventional banking and more specialized corporate and SME financing.
The challenge will be turning that economic activity into profitable loans and deposits while maintaining the asset-quality improvements that have helped drive the bank’s 2026 earnings recovery.