FROM ONE BRANCH TO FOUR, AND STILL COUNTING
Early in 2004 when Sumac Microfinance Bank was formed by 14 investors with common interest to provide micro-credit and lending services to the common folk in the Kenyan community, little did they know that this noble but humble idea would later grow into one of the fastest growing Microfinance Banks in Kenya.
Sumac Microfinance Bank has increased its portfolio from lending to a few, to lending to thousands of Kenyans as depositors find a safe home and haven for their money. It has become one of the most stable, reputable and reliable Microfinance Banks in Kenya.
With this development, Sumac has seen the rapid growth of its scope and reach in the market, and now boasts of four Branches countrywide, with three in Nairobi city Centre and one in Githunguri, which is rapidly becoming a shining star in the central region.
The Head Office on Consolidated Bank House along Koinange Street continues to thrive, so is the Nginyo Towers, Koinange Street Branch. These two were the first kids on the block.
The Ngara Branch later joined the fold and has since emerged as a pivotal business and financial fulcrum for small-scale and SME businesses around Ngara and its environs.
The Githunguri Branch is the latest installment in the branch odyssey, and the new kid on the block has surprised many with its forays into the Central region. Farmers are gradually but steadily realizing Sumac Microfinance Bank is the financial partner they need, and many of them have registered their interest in the services Sumac offers to farmers through the provision of Kilimo Biashara Loans and other related facilities.
The farmer in Central no longer has to worry how he will grow his agribusiness. Sumac has come to the rescue, and is here to help them all the way in the farming journey. Any farmer in Central who wants to grow their farming business is now assured they have a steady and reliable partner in Sumac Microfinance Bank.
Soon Sumac will be opening a branch in Nakuru as well as other parts of the country in line with the banks expansion plan. As it stands, there seems to be no stopping any time soon for Sumac, whose mercurial rise in the banking sector has been a story of hope, courage, humility, industry and perseverance against all odds to make a name in the industry.
As the Chairman of the Board of Directors, Mr. John Kibatha Njoroge says, this is just the beginning of a great journey ahead. “Sumac Microfinance Bank has a great future. We call on all Kenyans of goodwill to join us so that we can together develop a story of success and growth that we can tell many generations to come,” he says.