I&M Bank has opened eight (8) new branches in Kenya as part of its retail expansion strategy to strengthen its presence in the region.
The opening of the new branches the lender says has signaled its commitment to addressing the needs of the people and bridging the gap to financial inclusivity across the country.
The newly opened branches across various Kenyan counties bring the bank's total branch network to 49 in Kenya and 93 regionally.
The branch locations include three in the Coast Region, one in Naivasha, one in Kiambu County, and three within Nairobi County.
The expansion, which puts I&M Bank in 15 Counties, is an early step in a strategic push to be present in all 47 Counties in Kenya through various distribution channels.
“ The expansion is geared towards driving financial inclusion and extending our reach to new locations across the Country”, said I&M Bank’s executive general manager for personal & business banking Shameer Patel,
Three (3) out of the eight (8) new branches are upcycled shipping container branches. This is in line with the Bank's sustainability agenda exemplified in its green building headquarters in Nairobi, Kenya and Kigali, Rwanda.
Nikita Surty, Business Head at Spenomatic Group, added, “I&M Bank continues to be a valued partner to Spenomatic Group in implementing green transitions across East Africa.”
Now in its 50th year, I&M Bank says it intends to grow its countrywide network by 20 branches in 2024. The outlets will be spread across various counties nationwide.
Under its iMara Strategy, I&M Bank says it has prioritized expanding its retail services to bring its products closer to Kenyans.
This includes introducing retail products, expanding its credit facilities, and eliminating Bank-to-MPESA transaction costs among others.
