NAIROBI, Kenya, October 14 – SBM Bank Kenya’s profit before tax more than doubled to Sh911 million in the nine months to September 2026, up from Sh411 million a year earlier, helped by higher income and lower operating costs relative to revenue growth.
The lender’s total income rose 33 percent to Sh5.44 billion, with net interest income increasing 29 percent to Sh3.44 billion and non-funded income growing 39 percent to Sh2 billion.
Customer deposits grew 29 percent to Sh97.3 billion, while net loans and advances increased 23 percent to Sh56.5 billion as of September 30.
The bank’s non-performing loan ratio dropped to 16.9 percent from 32.3 percent a year earlier, as it continued to address bad loans. Loans issued since May 2024 have a non-performing loan ratio of 1 percent, according to the bank.
Chief Executive Officer Bhartesh Shah said the bank was focused on improving credit management and strengthening customer relationships.
“The growth in deposits is encouraging because it reflects customer confidence. Our task is to honour that confidence through reliable service, sound judgement and financing that helps households and businesses move forward,” Shah said.
Operating costs rose 12 percent during the period, while operating profit increased 197 percent to Sh1.3 billion from Sh447 million a year earlier.
