SBM Bank Kenya has announced a profit before tax of Ksh 911 million for the nine months ended September 30, 2026, representing a 122 percent jump from Ksh 411 million recorded in the same period of 2025, as the bank continues to build stronger customer relationships and tighten its credit management.
Operating profit more than tripled, rising 197 percent to Ksh1.3 billion from Ksh447 million in the corresponding period.
Total income for the nine months grew 33 percent to Ksh 5.444 billion, driven by a 29 percent rise in net interest income to Ksh 3.443 billion and a 39 percent growth in non-funded income to Ksh 2.001 billion.
Transactional income surged 95 percent and trade finance commissions climbed 98 percent, reflecting the bank’s push to deepen everyday banking relationships.
Operating costs grew at just 12 percent, well below the rate of income growth.
Customer deposits rose 29 percent year-on-year to Ksh 97.3 billion, while net loans and advances grew 23 percent to Ksh 56.5 billion over the same period.
Asset quality continued to improve markedly, with the non-performing loan ratio falling to 16.9 percent at the end of September 2026, down from 32.3 percent a year earlier and 17.3 percent at the end of June 2026, a reduction of 15.4 percentage points in twelve months.
CEO Bhartesh Shah said the results reflected steady, deliberate progress rather than a single turning point.
“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,” he said.
“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.”
A particularly telling indicator of the bank’s improving credit discipline is the NPL ratio on loans underwritten since May 2024, when the current CEO took office, that portfolio stands at just 1 percent.
“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,” Shah said.
On the technology side, SBM Bank Kenya has completed its core banking upgrade to Oracle FLEXCUBE 14.8 and migrated to the iCUST loan-origination platform.
The focus now shifts to embedding those investments into daily service delivery, with digital onboarding and mobile banking enhancements continuing alongside the bank’s Busara loyalty programme and zero-fee PesaLink transfers.
The bank is also working to simplify internal processes, strengthen succession planning, and maintain the execution discipline needed to keep growth, risk management, and customer outcomes in alignment.
