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Kingdom Bank has opened its 28th branch nationwide and its second this year. [File, Standard]
Kingdom Bank has opened a new branch in Nairobi’s Industrial Area, expanding its physical footprint into one of the country’s most concentrated hubs of micro, small and medium-sized enterprises (MSMEs), as the lender reaps rewards from a strategy of aggressive expansion into underserved markets.
The branch, located at Lunga Lunga Square, is the bank’s 28th nationwide and its second this year. The expansion bucks a trend that has seen most lenders shun new branches, pivoting instead to digital-only models as they cut costs. Kingdom Bank, however, says it is doubling down on physical presence where it matters most.
The lender said the choice of its latest location is strategic. Industrial Area is a dense cluster of manufacturing, logistics, warehousing and import-export trade sectors that rely on working capital, trade finance and cross-border payment solutions.
