SBM Bank Kenya Pre-Tax Profit Soars to KES 911 Million in Q3

SBM Bank Kenya has announced profit before tax of KES 911 million for the nine months ended 30 September 2026, up 122% from KES 411 million in the corresponding period of 2025.

By Jackson OKOTH On Oct 14, 2026

The results reflect continued progress in building a stronger bank through deeper customer relationships, more diversified income and disciplined credit management.

Performance at a glance:

Profit before tax of KES 911 million, up 122% from KES 411 million in the first nine months of 2025.
Operating profit of KES 1.3 billion, up 197% from KES 447 million in the corresponding period.
Customer deposits of KES 97.3 billion, up 29% year-on-year at 30 September 2026.
NPL ratio of 16.9%, down from 32.3% at 30 September 2025, a reduction of 15.4 percentage points.
Net loans and advances of KES 56.5 billion, up 23% year-on-year at 30 September 2026.

Total income for the nine-month period increased by 33% to KES 5.444 billion. Net interest income rose 29% to KES 3.443 billion, while non-funded income grew 39% to KES 2.001 billion.

Transactional income increased by 95% and trade finance commissions by 98%, demonstrating progress in the Bank’s strategy to deepen everyday banking and business relationships. Operating costs grew 12%, below the rate of income growth.

Commenting on the results, Bhartesh Shah, Chief Executive Officer of SBM Bank Kenya, said:

“Strong institutions are built through decisions that reinforce one another over time. We have focused on strengthening our systems, improving credit discipline and earning a larger place in our customers’ everyday lives. The results show progress, but our responsibility is to build the capability to sustain it.

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.”

The NPL ratio declined to 16.9% at 30 September 2026 from 32.3% a year earlier and 17.3% at 30 June 2026. The improvement reflects continued work on the legacy loan book and disciplined credit management.

The Bank recorded a net impairment charge of KES 418 million for the nine-month period as it continued to recognise credit risk through appropriate provisioning and write-downs.

Loans underwritten since May 2024, when the current CEO took office, have an NPL ratio of 1%. This provides a separate measure of the quality of more recent underwriting alongside the continuing work on the legacy loan book.

Bhartesh added, “We are working on the legacy loan book while building a healthier portfolio for the future. The 1% NPL ratio on loans underwritten since May 2024 is encouraging. Our responsibility is to sustain that discipline as the portfolio matures and lending grows.”

SBM Bank Kenya has completed its core banking upgrade to Oracle FLEXCUBE 14.8 and the migration to the iCUST loan-origination platform. The focus is now on embedding these investments in daily service, supporting consistent credit decisions and translating stronger systems into improved turnaround times and productivity.

Digital onboarding and mobile-banking enhancements continue to progress. Busara, the SBM Loyalty Program and zero-fee PesaLink transfers remain part of the Bank’s payments strategy. The next stage centres on customer adoption, active use and service stability, ensuring that investment delivers practical value.

The Bank is also embedding clearer accountability and process ownership across the organization. Its priorities include simplifying processes, strengthening succession and maintaining the execution discipline needed to keep growth, risk and customer outcomes aligned.