Sidian Bank Opens 49th branch in Ol Kalou, bets on SME and agribusiness growth

From left: Sidian Bank CEO Chege Thumbi, Nyandarua Governor Dr. Moses Kiarie Badilisha, and Ol Kalou Branch Manager Monica Kamau during the bank’s opening in Ol Kalou. Photo/courtesy.

By Cecilia Ngunjiri/The Mountain Journal

editor@themountainjournal.co.ke

Sidian Bank has opened its 49th branch in Ol Kalou, the administrative capital of Nyandarua County, as the lender pushes deeper into Kenya’s agricultural heartlands and positions itself to join the ranks of Tier Two banks by the end of 2025.

The new branch, located along the Gilgil–Nyahururu highway, was inaugurated in a ceremony attended by Nyandarua Governor Moses Kiarie Badilisha, senior county officials, and local entrepreneurs. The event underscored the growing importance of central Kenya as a banking frontier, with lenders increasingly seeking to capture the region’s expanding agribusiness and SME activity.

“This new Sidian Bank branch is more than just a financial institution; it is a partner in Nyandarua’s journey to economic transformation. 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,” Governor Badilisha said.

For Sidian, the Ol Kalou branch is both symbolic and strategic. The lender has carved out a niche as a bank for small and medium-sized enterprises, branding itself as the “home of biashara banking.” By positioning in Nyandarua, a county where agriculture and small-scale trade dominate, Sidian is embedding itself in an economy that mirrors its chosen client base.

Chief executive Chege Thumbi described the branch opening as a “purposeful step” in the bank’s long-term strategy.

“We believe in walking the entrepreneurial journey alongside every farmer, every trader, and every growing enterprise. Whether through working capital, SME solutions, digital banking, or invoice discounting, we are here to support ambitions,” he stated.

Mr Thumbi added that although digital banking had transformed how customers interacted with lenders, physical branches still played a vital role in rural and semi-urban areas. He noted that in places like Ol Kalou, customers valued reliable, in-person advice, and stressed that even as the bank expanded its digital platforms, it would continue to invest in branch networks that anchored it in the communities it served.

The expansion comes against the backdrop of robust performance. Sidian reported a 92 per cent rise in profit after tax in the first half of 2025, climbing to KSh1.01bn from KSh523m a year earlier. The growth was underpinned by a 42.8 per cent increase in net interest income and a 136.6 per cent jump in non-interest income, which together lifted total operating income to KSh3.55bn.

The lender now commands deposits of more than KSh60bn, supported by a balance sheet of KSh76.5bn. These figures, executives argue, provide the platform for accelerated investment in underserved counties, especially those with strong agricultural bases.

“Our trajectory shows we are on course for our Tier Two ambition. Strategic branches like Ol Kalou are not simply service points; they are catalysts for economic transformation and community engagement,” said Mr Thumbi.

Nyandarua County sits in the Mt Kenya region, an area known for high agricultural output including potatoes, dairy, and horticultural produce. Despite its productivity, the county has historically suffered from low levels of financial inclusion and limited access to credit facilities.

Governor Badilisha said that his administration was committed to creating a favourable environment for private sector investors, adding that financial institutions were critical as they connected farmers and youth enterprises with affordable credit to help them scale up.

Local traders welcomed Sidian’s arrival, with one Ol Kalou shopkeeper noting that most of them relied on SACCOs and microfinance groups, and adding that having a bank focused on small businesses, such as Sidian Bank, gave them confidence they would access loans without too much bureaucracy.

For Sidian, the task ahead is to convert its growing balance sheet into deeper penetration of the SME market. Analysts say the bank will need to maintain its momentum in diversifying income streams while containing operating costs. The lender’s ambition to reach Tier Two status, a classification reserved for banks with larger balance sheets and national reach, will require both aggressive expansion and consistent profitability.

Still, its recent financial performance suggests resilience. The bank has benefited from a diversified loan book and improved risk management, according to internal disclosures. Its emphasis on agribusiness lending also aligns with government priorities on food security and rural economic development.