Kingdom Bank has opened its newest branch in Gikomba, Nairobi to serve the growing bank clientele among the Micro, Small, and Medium Enterprises (MSMEs).
The new branch brings to 20 the number of Kingdom Bank branches and is located on the 1st floor of the Nafuu General Hardware Building in Gikomba.
Gikomba, renowned as a bustling hub for retail traders and customers, wholesalers, and other businesses including food vendors, presents a vibrant opportunity that Kingdom Bank is eager to serve and support the dynamic entrepreneurial spirit prevalent in this area, management said.
Speaking on the opening of the new branch, managing director Kingdom Bank, Anthony Mburu, said:“We are pleased to open our doors to the vibrant Gikomba business community that is renowned for its formidable enterprise and industry. We are a bank that has built domain expertise and experience in SME banking, and we are most confident that the Gikomba community will find our services very fulfilling.”
The opening of brick-and-mortar branches is intended to complement Kingdom Bank’s multi-channel strategy that enables customers to access banking through the outlets that are most convenient to them, including digital banking platforms that include KB Mobile App, Dial *344#, digitisation of payments through M-collections and Till solutions, and internet banking.
Kingdom Bank, a subsidiary of the Co-operative Bank since its August 2020 takeover of the stricken Jamii Bora Bank, which it rebranded to the current name, has since registered a remarkable recovery and built an asset base of Sh 36.7 billion and net earnings of Sh 655 million in 2023.
According to management, Kingdom Bank will continue to explore opportunities to open additional service outlets, in "carefully selected locations throughout the country."
The lender has been instrumental in supporting MSMEs in key areas among them retail, agriculture and manufacturing.
The bank has a dedicated agribusiness unit that focuses on empowering farm input providers, farmers, food processors and distributors.
The empowerment of these value chain players is in the form of financial support through the provision of savings, loans, investment, digital financial solutions and payment platforms that allow players to scale their agribusiness ventures.
Although many other banks also extend agriculture financing, Kingdom Bank’s value proposition is hinged on personalised relationship management and superior client servicing.
This means that each customer is mapped to a Relationship Manager who handles their day-to-day operations and also extends financial advisory services as a value add to customers.
The bank has also signed extensive partnerships with other key stakeholders, including motor vehicle and equipment service providers, to support businesses and individuals to grow.
