SBM Bank Kenya reported a net profit of KSh591 million for the nine months ended September 30, 2026, marking an increase of 108.83 per cent from KSh283 million recorded in the comparable period of 2025.
Operating profit climbed 197 per cent to KSh1.3 billion, while total income rose 33 per cent to KSh5.444 billion. Net interest income grew 29 per cent to KSh3.443 billion and non-funded income expanded 39 per cent to KSh2.001 billion, driven by a 95 per cent surge in transactional income and a 98 per cent rise in trade finance commissions.
Customer deposits increased 29 per cent to KSh97.3 billion and the net loan book grew 23 per cent to KSh56.5 billion. Operating expenses were kept in check, rising 12 per cent, well below the pace of revenue growth.
The non-performing loan (NPL) ratio fell to 16.9 per cent as of September 30, 2026, down from 32.3 per cent a year earlier and lower than the 17.3 per cent recorded at the end of June 2026. Loans originated since May 2024, when Chief Executive Officer Bhartesh Shah took office, posted an NPL ratio of 1 per cent.
The bank booked a net impairment charge of KSh418 million for the period. Shah said the institution had concentrated on credit discipline and system upgrades, adding: “Strong institutions are built through decisions that reinforce one another over time.”
SBM Bank Kenya completed an upgrade to the Oracle FLEXCUBE 14.8 core banking platform and migrated to the iCUST loan-origination system, with plans to embed the new technology across its 34 branches to shorten transaction times and improve credit execution. The lender also announced investments in digital onboarding, mobile banking, the Busara loyalty programme and zero-fee PesaLink transfers.
