Kingdom Bank has embarked on a branch expansion plan as it targets to increase its reach and serve the growing bank clientele among the Micro, Small, and Medium Enterprises (MSMEs).
The latest to be opened is Kitale branch, with the ongoing network expansion programme set to see Kingdom Bank open new branches in carefully-selected towns and commercial centres throughout the country.
The new branch in Kitale town, Trans Nzoia County has brought to 21 the number of branches the lender has with the strategic expansion marking a significant milestone in the Bank’s mission to enhance financial inclusion and support the vibrant economic landscape of Kenya.
Located at the GH Tanna Building along Kenyatta Street, the new branch reaffirms the bank’s commitment to being a steadfast partner for the Micro, Small, and Medium Enterprises (MSMEs) in Kitale and beyond, and especially local entrepreneurs, agribusiness investors and commercial farmers.
Kingdom Bank is confident that the Kitale business and farming community will find the bank’s solutions most useful, notably farm input loans and insurance, asset finance for the acquisition of vehicles, farm machinery and essential equipment to retool and revitalize their farms and businesses.
Kingdom Bank managing director Anthony Mburu said: “We are excited to expand our footprint to Kitale, the vibrant hub of Kenya’s bread basket that is Trans Nzoia County. This new branch is part of our ongoing network expansion programme that will see Kingdom Bank open new branches in carefully-selected towns and commercial centres throughout the country. We look forward to becoming a catalyst for the growth and development of Kitale and Trans Nzoia County.”
Trans Nzoia governor George Natembeya said the decision to open a branch in Kitale was a vote of confidence in the people of Kitale and Trans Nzoia County as a whole.
“I wish to assure you, the Managing Director of Kingdom Bank and your Board that you will find this town and the region a most productive space that will be very rewarding for your bank. My doors will always be open to you for any consultations and support that you may need,” Natembeya said.
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#, digitisation of payments through M-collections and Till solutions, and internet banking.
Kingdom Bank customers can also access their accounts at over 500 Co-operative Bank ATMs and 27,000 Co-op Kwa Jirani Agents nationwide.
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 Sh36.7 billion and net earnings of Sh655 million in 2023.
The lender has been instrumental in supporting MSMEs in key areas among them retail, agriculture and manufacturing.
It has a dedicated agribusiness unit that focuses on empowering farm input providers, farmers, food processors and distributors.
The empowerment of these value chain players is in the form of financial support through the provision of savings, loans, investment, digital financial solutions and payment platforms that allow players to scale their agribusiness ventures.