SBM Bank Kenya Posts 171% Profit Growth, Customer Deposits Hit Sh94 Billion
SBM Bank Kenya announced a 171% surge in profit before tax to Sh548 million for the first half of 2026, driven by strong revenue growth and balance sheet strengthening. The bank also reported significant improvements in its NPL ratio, increased lending, and robust customer deposit growth, reflecting its strengthened institutional framework and customer trust.
SBM Bank Kenya has reported a 171 percent increase in profit before tax for the first half of 2026, rising to Sh548 million from Sh202 million recorded during the same period last year. The strong performance was driven by robust revenue growth, disciplined risk management, and strategic balance sheet improvements.
Operating profit also rose significantly to Sh852 million, while net loans and advances grew by 18 percent to Sh54.1 billion, reflecting increased lending to businesses and households across Kenya.
The bank recorded notable improvements in asset quality, with its gross non-performing loan ratio declining from 32.4 percent to 17.3 percent year-on-year. Operating income increased by 35 percent despite only a 12 percent rise in operating expenses, highlighting improved efficiency.
Net interest income climbed to Sh2.2 billion, while non-funded income grew by 54 percent to Sh1.39 billion, driven by higher transaction volumes and increased customer activity. Customer deposits rose by 23 percent to Sh94 billion, marking a 66 percent increase over the past two years and revealing growing customer confidence in the bank.
SBM Bank Kenya Chief Executive Bhartesh Shah said the results reflect the institution's focus on sustainable growth, resilient financial management, and customer trust. The bank has also continued investing in its digital banking platforms to improve customer experience and expand access to its services.