The I&M Group is set to bolster its physical presence by expanding its branch network to 100 locations by December 2026, under the banner of its iMara 3.0 strategy. Currently boasting 50 branches, the ambitious plan entails the addition of approximately 17 new branches annually over the next three years. This move comes amidst the group’s impressive profit growth, with a notable 12.7 percent surge in net profit to Sh. 12.62 billion in 2023, reflecting a strategic pivot towards retail banking.
Led by CEO Gul Khan, the expansion strategy underscores a concerted effort to cater to retail banking needs and establish global relevance within Kenya’s consumer landscape. Recent initiatives have seen the opening of eight new branches across strategic locations in Kenya, including coastal regions and Nairobi, with a focus on sustainability showcased through up-cycled shipping container branches. With plans to unveil more than twelve additional branches by year-end, the bank aims to surpass the milestone of one million customers, particularly targeting micro, small, and medium-sized enterprises (SMEs) to bolster financial inclusion and support economic growth.
