I&M Bank has recently expanded its footprint in Kenya with the opening of eight new branches, aligning with its retail expansion strategy to enhance its regional presence. This development increases the bank’s total branch network to 49 in Kenya and 93 regionally, with strategic locations across various counties. With a commitment to addressing the financial needs of diverse communities, I&M Bank aims to drive financial inclusion and personalized engagement through this expansion, which is an initial step towards covering all 47 counties in Kenya through various distribution channels. The bank’s Executive General Manager, Shameer Patel, emphasizes their dedication to offering tailored services and products that uplift individuals and local communities, complementing their digital services.
In line with its sustainability goals, three of the newly opened branches are constructed from upcycled shipping containers, showcasing the bank’s commitment to environmentally friendly practices. Guided by an Environmental, Social, and Governance (ESG) policy framework, these branches use end-of-life shipping containers and solar power to significantly reduce their carbon footprint. This initiative reflects I&M Bank’s broader strategy, as outlined in its iMara Strategy, to prioritize retail service expansion, introduce innovative products, and eliminate certain transaction costs to bring its offerings closer to the people of Kenya. The bank, celebrating its 50th year, plans to further grow its countrywide network by adding 20 branches in 2024, emphasizing sustainable and inclusive growth.
