I&M eyes small traders with Nanyuki, River Road branches

I&M Bank Kenya has opened two additional banks in Nanyuki and Nairobi, key hubs for trade, as it seeks to grow its market share and profitability.

I&M Bank Kenya Managing Director Kihara Maina said its Nanyuki branch is aligned to support local customers with a variety of financial products designed to meet their needs. Nanyuki is a fast-growing agricultural town.
The Nairobi outlet, on the other hand targets, the small and micro enterprise (SME) entrepreneurs operating in downtown Nairobi including River Road, Kirinyaga Road and its environs.

“At I&M Bank Kenya, we mean business and we shall remain responsive to our customer requests in our business growth journey,” Mr Maina said.
The expansion by the lender brings its total branch network to 35.

DIGITAL BANKING PLATFORMS

Mr Maina said the physical branch expansion strategy has been designed to complement the bank’s investment in digital banking platforms.

Over the past year, the bank has pursued a growth strategy that entails venturing into new markets.

The lender recently opened three branches with ATMs at Garden City Mall along Thika Road Nairobi, Gateway Mall in Syokimau and Milele Mall in Ngong Town.

The financier has also recently launched retail banking products targeting retail consumers.

In March, I&M Bank and MobiKash partnered to launch I&M Karibu brand a deal that saw it offer agency banking services.

The lender’s earnings after tax for the first quarter of 2016 grew by 10.3 per cent to Sh1.7 billion from Sh1.6 billion in the first quarter of 2015.