In a bid to accelerate its retail expansion under the iMara Strategy (2024-2026), I&M Bank opened its 62nd branch at Meru Makutano in Meru County bringing to two the number of branches in the region.
Speaking during the opening, the Bank’s Chief Executive Officer (CEO) Mr Gul Khan said the branch opening was in line with their plans to unveil nine new branches in the first quarter of 2025.
This initiative, he added, builds upon last year’s momentum, which saw the lender extend its footprint into four new counties.
“The latest phase, targeting key economic zones across the country, underscores the Bank’s commitment to supporting Kenya’s burgeoning business hubs and enhancing access to banking services for Micro, Small and Medium Enterprises (MSMEs) and retail customers,” said Khan.
He said the expansion, driven by rapid urbanisation and increased commercial activity, would bring the Bank’s presence to 21 counties aiming to cover the 47 counties by 2026.
“This year’s expansion drive commenced with the opening of the Mtwapa Branch in Kilifi County, marking the ninth branch in the Coastal region and a significant milestone in I&M Bank’s growth journey,” said Khan.
He said Meru is an economic powerhouse with a thriving business community and they were excited to be part of its growth story.
“Meru people are known for their warmth, resilience, and entrepreneurial spirit, which have made this region a hybrid hub of both commerce and culture. Our new branch will provide innovative financial solutions that cater to individuals, businesses, and investors, reinforcing our commitment to catalysing Kenya’s economic development,” he said.
The new Mtwapa branch will offer a full suite of retail and MSME banking services, including business financing, trade services, investment solutions, and digital banking platforms designed to enhance customer convenience.
As part of this expansion drive, I&M Bank is also strengthening its presence across Central, Nairobi, and Western regions to address critical gaps in financial access and tailored banking solutions.
In Central, new branches in Kenol, Meru Makutano, and Embu will serve the rapidly growing commercial hubs, meeting the evolving needs of businesses and communities.
In Nairobi, new branches in Kawangware and ABC Mall on Waiyaki Way will enhance access to banking services in high-traffic urban areas facilitating trade and supporting enterprise growth.
In the Western region, upcoming branches in Kericho, Bungoma, and Kakamega will focus on cross-border trade and support agribusinesses as part of the lender’s broader sustainable financing agenda.
Khan added that four of the new branches have been constructed using repurposed end-of-life shipping containers, ensuring minimal environmental impact compared to traditional brick-and-mortar structures.
“By adopting modular container branches, we are reducing our carbon footprint while maintaining the highest standards of banking infrastructure,” the CEO said.
Through this strategic expansion, I&M Bank aims to foster economic development, promote financial inclusion, and provide tailored financial solutions to meet the diverse needs of Kenya’s dynamic population sustainably, he added.
By Dickson Mwiti
