I&M Bank is accelerating its retail expansion under the iMara Strategy (2024-2026) with plans to unveil nine new branches in the first quarter of 2025. This initiative 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.
Driven by rapid urbanisation and increased commercial activity, this expansion will bring the Bank’s total branch network to 61 branches across 21 counties.
This year’s expansion kicked off with the launch of the Mtwapa Branch in Kilifi County, followed by two branch openings in the Nairobi Region. Now, with the opening of the Kenol Branch in Murang’a County, I&M Bank celebrates another key milestone in its growth journey.
Speaking during the official opening of the Kenol Branch along the Meru-Nairobi Highway, Gul Khan, CEO of I&M Bank, stated, “Kenol is an economic powerhouse with a thriving business community and we are excited to be part of its growth story. The Murang’a people are known for their business savvy, 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.”
The new Kenol 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.
The Chief Guest at the branch opening ceremony and Chairperson of the Kenya National Chamber of Commerce & Industry (KNCCI), Murang’a Chapter Naomi Kagone Said, “Kenol is experiencing remarkable growth, with its expansion bringing positive economic impact to the area. The introduction of innovative solutions, such as free transaction rates from the bank to M-Pesa, has significantly supported small businesses, enabling them to thrive. This continued progress is fostering trust and driving sustainable economic development within the community.”
As part of this expansion drive, I&M Bank is also strengthening its presence across Central, by opening branches in Makutano Meru and Embu, followed by the Western regions to address critical gaps in financial access and tailored banking solutions. The new branches will serve the rapidly growing commercial hubs, meeting the evolving needs of businesses and communities.
In the Western region, upcoming branches in Kericho, Bungoma and Kakamega will focus on cross-border trade and supporting agribusinesses as part of the lender’s broader sustainable financing agenda.
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,” said Stanley Gachoki, Head of Distribution & Premium Banking. “This initiative is in line with our sustainability action plan, which prioritises building a sustainable business and embedding responsible environmental practices in our operations.”
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.
