I&M Bank has announced that it has opened eight new branches in Kenya as part of its retail expansion strategy to further strengthen its presence in the region.
The newly opened branches in various Kenyan counties bring the bank’s total branch network to 49 in Kenya and 93 regionally.
The eight new branch locations include three in the Coast Region i.e. Diani, Watamu, Kilifi, one in Naivasha, one in Tatu City in Kiambu County, and three within Nairobi County i.e. Eastleigh, Gikomba, and Saifee Park in Langata. The expansion puts I&M Bank in 15 Counties and is a step in a push for the company to be present in all 47 Counties in Kenya through various distribution channels.
Shameer Patel, I&M Bank’s Executive General Manager – Personal & Business Banking commented on the Bank’s commitment to offering personalized customer-first services and products that will support and uplift individuals and local communities: “Our branch expansion complements our digital services and is a result of our focus to being close to our customers and driving higher personalized engagement. The expansion is geared towards driving financial inclusion and extending our reach to new locations across the Country.”
I&M Bank intends to grow its countrywide network by 20 branches in 2024. The outlets will be spread across various counties.
I&M Bank is a commercial bank headquartered in Kenya with a regional presence in Mauritius, Tanzania, Rwanda, and Uganda. Since its inception in 1974, the Bank has evolved from a community financial institution to a publicly listed Kenyan-based regional commercial bank offering a full range of Corporate, Business, Premium Client, and Personal financial services.
I&M Bank is wholly owned by I&M Group PLC, which is listed on the Nairobi Securities Exchange (NSE). British International Investment (BII – Formerly CDC Group plc) owns approximately 10.68% of I&M Group PLC.