I&M Bank is accelerating its branch network expansion across Kenya, with nine new branches set to open in the first quarter of 2025. This rollout is part of the lender’s iMara Strategy (2024-2026), a multi-year growth plan focused on expanding financial services to Micro, Small, and Medium Enterprises (MSMEs), retail customers, and emerging business hubs across the country.
The new branches will bring I&M Bank’s network to 61 branches across 21 counties, reflecting the bank’s commitment to enhancing financial inclusion and supporting economic development in both urban and semi-urban areas.
Building on 2024 Expansion Momentum
The ongoing 2025 branch expansion builds upon the momentum established in 2024, when I&M Bank opened new branches in four additional counties, broadening its footprint in underserved regions.
The first phase of 2025’s rollout has already commenced, starting with:
- Mtwapa Branch in Kilifi County
- Two branches in Nairobi Region
- Kenol Branch in Murang’a County, officially launched in March 2025
Why Kenol Matters for I&M Bank
The Kenol Branch, strategically located along the Meru-Nairobi Highway, taps into a rapidly growing economic corridor. Speaking at the official opening, I&M Bank CEO Gul Khan highlighted Kenol’s position as a commercial powerhouse.
“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,” said Khan.
The Kenol Branch offers a full suite of banking solutions, including:
- Retail banking services
- MSME business financing
- Trade finance solutions
- Investment advisory
- Access to I&M’s digital banking platforms for enhanced convenience
Focus on Financial Inclusion and MSME Support
I&M Bank’s retail growth strategy specifically targets enhancing banking access for MSMEs, a segment that continues to drive Kenya’s economic development. With tailored financial products for small businesses and entrepreneurs, the bank aims to bridge financial access gaps and support business growth in both emerging and established commercial zones.
The Kenya National Chamber of Commerce & Industry (KNCCI) Murang’a Chapter Chairperson, Naomi Kagone, praised I&M’s approach, highlighting how initiatives like free bank-to-M-Pesa transactions directly support small businesses.
“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,” said Kagone.
Upcoming Branches in Central and Western Kenya
I&M Bank’s expansion will cover Central Kenya, with new branches planned for:
- Makutano in Meru County
- Embu County
The Western Kenya expansion, targeting commercial hubs and cross-border trade corridors, will include new branches in:
- Kericho
- Bungoma
- Kakamega
These branches will cater to agribusinesses, cross-border traders, and local entrepreneurs, aligning with I&M Bank’s sustainable financing agenda.
Sustainable Banking with Modular Container Branches
In a notable shift toward sustainability, I&M Bank has adopted modular container branches, with four of the new branches constructed using repurposed shipping containers.
According to Stanley Gachoki, Head of Distribution & Premium Banking at I&M Bank, this approach significantly reduces the carbon footprint associated with traditional branch construction.
“By adopting modular container branches, we are reducing our carbon footprint while maintaining the highest standards of banking infrastructure. This initiative is in line with our sustainability action plan, which prioritises building a sustainable business and embedding responsible environmental practices in our operations,” said Gachoki.
Aligning with Kenya’s Economic Development
The iMara Strategy places financial inclusion, innovation, and sustainability at the core of I&M Bank’s growth ambitions. By expanding into emerging economic zones, enhancing access to banking for MSMEs, and adopting green construction techniques, the bank aims to position itself as a key partner for growth across Kenya.
The expansion also supports Kenya’s financial inclusion goals, especially in regions where formal banking access remains low. By bringing banking services closer to rural and peri-urban areas, I&M Bank seeks to empower businesses, enhance savings culture, and offer innovative financing options suited to the diverse needs of Kenyan customers.
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