I&M Bank has announced an aggressive retail expansion strategy under its iMara Strategy (2024-2026), with plans to open nine new branches in the first quarter of 2025.
This expansion follows the lender’s successful growth in 2024, during which it extended its footprint into four new counties.
The new branches will be strategically located in key economic zones across Kenya, reinforcing the Bank’s commitment to supporting Micro, Small, and Medium Enterprises (MSMEs) and retail customers.
With rapid urbanization and increasing commercial activity driving demand for banking services, the Bank’s network will grow to 61 branches across 21 counties.
The 2025 expansion began with the launch of the Mtwapa Branch in Kilifi County, followed by two branch openings in Nairobi.
The latest addition, the Kenol Branch in Murang’a County, marks another milestone in I&M Bank’s continued growth.
Speaking at the Kenol Branch inauguration along the Meru-Nairobi Highway, I&M Bank CEO Gul Khan highlighted the region’s economic vitality.
“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 catalyzing Kenya’s economic development.”
The Kenol branch will offer a comprehensive range of retail and MSME banking services, including business financing, trade services, investment solutions, and digital banking platforms to enhance customer convenience.
Naomi Kagone, Chairperson of the Kenya National Chamber of Commerce & Industry (KNCCI) Murang’a Chapter, attended the launch as Chief Guest.
She praised the expansion, stating, “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.”
Beyond Murang’a, I&M Bank is strengthening its presence in Central Kenya with upcoming branches in Makutano Meru and Embu.
The expansion will then shift to the Western region to bridge financial access gaps and provide tailored banking solutions.
New branches in Kericho, Bungoma, and Kakamega will prioritize cross-border trade and agribusiness support as part of the Bank’s broader sustainable financing agenda.
In an environmentally conscious move, four of the nine new branches have been constructed using repurposed end-of-life shipping containers.
This sustainable approach significantly reduces 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 aligns with our sustainability action plan, which prioritizes building a sustainable business and embedding responsible environmental practices in our operations.”
Through this strategic expansion, I&M Bank aims to drive economic growth, enhance financial inclusion, and provide customized financial solutions to meet the evolving needs of Kenya’s dynamic population.
I&M Bank is a leading Tier 1 commercial bank headquartered in Kenya, with a growing regional presence in Tanzania, Rwanda, Uganda, and Mauritius through a joint venture with Bank One.
