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SBM Bank Kenya Posts a KES171.3% surge in profit of KES 548M
Profit Before Tax increased by 171% to KES 548 million from KES 202 million in the corresponding period last year. Operating Profit rose almost four-fold to KES 852 million, while customer deposits increased by 24% to KES 94.0 billion, demonstrating growing confidence in the Bank.
SBM Bank Kenya has announced strong financial results for the six months ended 30 June 2026, reflecting the continued execution of a strategy focused on building a stronger, more resilient and more customer-focused bank.
Net loans and advances increased by 18% to KES 54.1 billion, supporting households and businesses across Kenya.
The Gross Non-Performing Loan ratio improved materially to 17.3% from 32.4% a year earlier. Total assets increased to KES 109.9 billion and shareholders’ equity strengthened to KES 11.1 billion. Capital and liquidity remained comfortably above Central Bank of Kenya regulatory requirements.
Income growth was broad-based. Net interest income increased to KES 2.2 billion, while non-funded income grew by 54% to KES 1.39 billion, driven by higher customer activity and transaction volumes. Total operating income increased by 35%, substantially outpacing the 12% growth in operating expenses and generating strong positive operating leverage despite continued investment in technology and infrastructure.
Building a Stronger Bank
The H1 2026 performance represents another important milestone in a two-year strategy to strengthen every aspect of the franchise. The Bank has focused on improving earnings quality, strengthening its balance sheet and risk profile, enhancing customer experience and investing in the capabilities required for sustainable growth.
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Sustained profitability
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Returned the Bank to sustained profitability and materially strengthened operating performance.
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Growing customer confidence
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Increased customer deposits by approximately 66% over the past two years.
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Stronger asset quality
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Reduced the Gross NPL ratio from 32.4% to 17.3%.
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Financial resilience
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Strengthened capital while maintaining liquidity and regulatory buffers comfortably above minimum requirements.
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Future-ready platform
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Continued investing in digital banking, payments, infrastructure and customer experience.
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The Bank believes that sustainable financial performance is created through disciplined execution, prudent risk management, continuous investment and an unwavering focus on customers.
Commenting on the results, SBM Bank Kenya Chief Executive Officer Bhartesh Shah said:
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“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. The first half of 2026 provides further evidence that this strategy is delivering sustainable value.”
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SBM Bank Kenya continued to invest significantly in technology, operational resilience and customer experience during the first half of 2026.
A major milestone was the successful upgrade of the Bank’s core banking platform to Oracle FLEXCUBE 14.8, making SBM Bank Kenya the first bank globally to go live on this version. The upgrade enhances system performance, resilience, security and scalability, providing a stronger technology foundation for continued innovation and future growth.
The Bank also expanded customer capabilities through enhanced Mastercard functionality, continued development of the Busara Kids Banking App, growth of the SBM Loyalty Programme and free PesaLink transfers of up to KES 1 million through the Mfukoni mobile and online banking platforms.
These investments reflect the Bank’s belief that technology is not simply an operational necessity, but a strategic enabler of better customer outcomes, greater resilience and sustainable long-term growth.
SBM Bank Kenya combines the institutional strength, governance and international reach of a well-capitalised banking group with the speed, flexibility and entrepreneurial mindset of a focused local institution. Shorter decision paths enable the Bank to respond quickly to changing customer needs, tailor solutions more effectively and bring relevant ideas to market faster.
This combination of institutional strength and execution agility gives SBM a distinctive position in Kenya’s banking market: financially resilient, internationally connected and able to act with the responsiveness customers increasingly expect.
Building on its strengthened financial position, SBM Bank Kenya will continue expanding responsible financing to individuals, SMEs, corporates and trade while increasing its capacity to support climate-resilient and environmentally sustainable investments.
The Bank’s approach remains centred on disciplined lending, sound governance and financing that generates tangible economic and social value through enterprise growth, employment creation and broader financial inclusion.
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SBM Bank Kenya is part of the SBM Group, whose ultimate holding company, SBM Holdings Ltd, is listed on the Official Market of the Stock Exchange of Mauritius. The Group has substantial ownership by Mauritian public-sector institutions, providing long-term stability and strong institutional support.
Together with SBM Bank Kenya’s improving profitability, strengthened capital base, materially improved asset quality and robust governance framework, this provides a credible platform for sustainable and responsible growth in Kenya.