The openings of new branches in Kapsabet, Nandi County and Nyali, Mombasa County have enabled I&M Bank to extend its retail and business banking coverage as part of its iMara Strategy (2024–2026) expansion.
With the addition of these two branches, I&M bank network has grown to 65 outlets across 24 counties, positioning the lender among Kenya’s fastest-growing banks in retail and business banking.
The Kapsabet branch, located in the town’s commercial hub, is expected to facilitate the region’s vibrant agricultural value chains, including tea, maize, and dairy while increasing the flow of financing to micro, small, and medium enterprises (MSMEs). Loans for agribusiness, equipment financing, and value chain financing, along with digital banking services, will be provided by the bank.
“The arrival of I&M Bank in Kapsabet symbolises to the customers and shareholders that our commitment is to be where our clients need us most. This branch will have a central role in supporting the North Rift farmers as well as the regional businesses,” said Shameer Patel, Director, Retail Business Banking at I&M Bank Kenya.
Nandi County CEC for Trade, Tourism and Enterprise Development, Isaiah Keter, expressed, “The existence of solid financial institutions like I&M Bank is the base of trade, enterprise, and industrialisation. This is more than just an opening of a building; it is the birth of new opportunities for our people and the county’s growth.”
The new branches are part of I&M’s bold expansion this year, which has led to 10 branch openings in high-potential markets, such as Mtwapa, Kawangware, Embu, Kericho, Bungoma, Kakamega, and Mwea.
Patel mentioned that the location choices for the bank’s expansion are backed by data, the bank concentrates its efforts in more where tareas are fewer banking options, ensuring it has greater effea ct in supporting the local economies and at the same time growing its customer base.
The bank further stated that the new outlets contribute to their environmental agenda as they come with active efforts of promoting climate securitisation and financial inclusion.
The Nyali branch in Mombasa County, which is planned to open late in September, will be a vital extension of I&M’s coastal footprint and will allow the Bank to benefit from the region’s status as East Africa’s leading trade and logistics gateway.