Kenya: Kingdom Bank expands its reach with a new branch in Gikomba

Kingdom Bank’s latest expansion sees the opening of its newest branch in Gikomba, Nairobi, catering to the increasing clientele among Micro, Small, and Medium Enterprises (MSMEs).

This addition marks the 20th branch in Kingdom Bank’s network and is situated on the 1st floor of the Nafuu General Hardware Building in Gikomba.

Gikomba, known for its lively atmosphere hosting retail traders, wholesalers, and various businesses including food vendors, offers an energetic setting where Kingdom Bank aims to provide tailored support and services to nurture the entrepreneurial drive thriving in this area, according to management.

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#, digitization 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 played a pivotal role in bolstering Micro, Small, and Medium Enterprises (MSMEs), particularly in sectors such as retail, agriculture, and manufacturing.

Within its operations, the bank has established a specialized agribusiness unit aimed at empowering various stakeholders along the agricultural value chain, including farm input providers, farmers, food processors, and distributors.

This empowerment initiative encompasses a range of financial services tailored to the needs of agribusiness, including savings, loans, investment opportunities, digital financial solutions, and payment platforms. These offerings enable players in the agribusiness sector to expand and enhance their ventures effectively.