Sidian Bank has announced a strategic expansion of its small and medium enterprise (SME) lending portfolio in the Mt. Kenya region, following the opening of its 49th branch in Gilgil, Nyandarua County.
The move underscores the lender’s commitment to financial inclusion and comes on the back of a robust first-half performance in 2025.
Bringing Banking Closer to Biashara
The Gilgil branch launch marks a significant milestone in Sidian’s regional growth strategy, targeting underserved agribusinesses and entrepreneurs.
“Establishing our presence here is therefore not only strategic; it is purposeful,” said Chege Thumbi, Sidian Bank CEO. “It reflects our commitment to bringing banking closer to the people, where businesses are thriving, and where communities are building their future.”
Nyandarua County Governor Dr. Moses Badilisha lauded the bank’s expansion, noting its potential to catalyse local economic development. “By supporting our farmers, traders, and small businesses with accessible credit and quality banking services, Sidian Bank is helping us unlock the full potential of our people and resources,” he said during the launch event.
Strong Financials Fuel Expansion
Sidian Bank’s expansion is backed by impressive financial results for the six months ending June 30, 2025. The Tier 2 lender nearly doubled its profit after tax to KSh 1.01 billion, up from KSh 523 million in the same period last year, a 92.1% increase.
Key performance highlights include:
| Metric | Jun 30 2025 | Jun 30 2024 | YoY Change |
|---|---|---|---|
| Net Interest Income | KSh 1.634Bn | KSh 1.144Bn | +42.8% |
| Non-Interest Income | KSh 1.919Bn | KSh 0.811Bn | +136.6% |
| Operating Income | KSh 3.553Bn | KSh 1.955Bn | +81.7% |
| Loan Loss Provisions | KSh 0.493Bn | KSh 0.759Bn | -35.1% |
| Operating Expenses | KSh 2.102Bn | KSh 1.360Bn | +54.6% |
| Profit Before Tax | KSh 1.450Bn | KSh 0.836Bn | +73.5% |
| Profit After Tax | KSh 1.005Bn | KSh 0.523Bn | +92.1% |
| Customer Deposits | KSh 59.979Bn | KSh 59.854Bn | +0.2% |
| Loans & Advances (Net) | KSh 47.187Bn | KSh 43.926Bn | +7.4% |
The bank also reported a solid balance sheet of KSh 76.5 billion in total assets and continued investment in digital infrastructure to support its growing customer base.
“We do take pride in being a stable and growing financial institution,” Thumbi added. “Our broader vision of becoming a Tier 2 Bank by the end of 2025 means we are not here for the short term.”
Branch Network and Digital Push
The Gilgil branch follows recent openings in Bomet Town and a relocation in Nairobi’s Eastlands, reflecting Sidian’s dual strategy of physical expansion and digital channel scaling. These efforts aim to enhance access for SMEs and retail clients, especially in high-growth regions.
With its latest move into Mt. Kenya, Sidian Bank is positioning itself as a key player in Kenya’s SME banking space—anchored by strong financials, regional relevance, and a clear mission to empower biashara.
