NAIROBI, Kenya, July 22 – SBM Bank Kenya posted a 171 percent increase in profit before tax in the first half of 2026, driven by higher lending, stronger customer deposits and improved asset quality.
The lender reported a profit before tax of Sh548 million for the six months ended June 30, up from Sh202 million recorded in the same period last year.
While net interest income increased to Sh2.2 billion, non-funded income rose by 54 percent to Sh1.39 billion, driven by higher customer activity and transaction volumes.
“These results are about far more than stronger profitability. They demonstrate the continued strengthening of our institution. Over the past two years, we have deliberately focused on building a bank with higher-quality earnings, disciplined risk management, a resilient balance sheet and the agility to respond quickly to our customers’ evolving needs,” SBM Bank Kenya Chief Executive Officer Bhartesh Shah said.
The bank also improved the quality of its loan book, with the gross non-performing loan ratio declining to 17.3 percent from 32.4 percent a year earlier.
Shah said the increase in customer deposits, which grew by 24 percent to Sh94 billion, reflected growing confidence in the lender.
“The continued growth in customer deposits is particularly encouraging because it reflects trust. Customers choose banks they believe are financially strong, well governed and committed to supporting them over the long term.”
