SBM Bank Kenya has entered a partnership with Global Motors Centre Limited to provide financing that covers up to 95 per cent of the purchase price for new Jetour sport-utility vehicles.

The arrangement applies to the Jetour Dashing, X70 Plus, T2 and T1 models and allows repayment periods of as long as 72 months, together with motor insurance at competitive rates and financing for the insurance premiums.

The offer is aimed at individual consumers, professionals, business owners and corporate clients seeking personal vehicles or fleet expansion without paying the full price upfront.

“By offering up to 95 per cent financing alongside integrated bancassurance, we are removing major financial hurdles for professionals, business owners and corporate entities, enabling them to upgrade their fleets or personal vehicles under highly flexible terms,” said Eric Wambua, director of corporate and institutional banking at SBM Bank Kenya.

Abdallah Zubedi, a director at Global Motors Centre, added that “Such partnerships ensure that Kenyans can acquire new vehicles seamlessly, affordably, and fully supported by reliable financing and insurance structures from day one.”

Industry data cited by the partners show that new-vehicle sales increased by 12.2 per cent year-on-year between January and April 2026, following eight successive Central Bank Rate cuts that lowered the benchmark rate to 8.75 per cent.

Chinese automotive brands have grown their share of reported industry sales from 0.49 per cent five years ago to 7.46 per cent in the latest figures, while monthly vehicle sales in Kenya are estimated at between 7,000 and 9,000 units, dominated by imported used cars.

The financing scheme could encourage more buyers to consider new vehicles, although the overall cost will depend on the applicable interest rate, fees, insurance premiums and individual loan terms.

For companies, the facility offers an alternative route to acquire transport assets while preserving working capital, aligning with SBM Bank Kenya’s broader asset-financing strategy.

In the nine months to September 30, 2026, SBM Bank Kenya reported a profit before tax of KSh911 million, a 122 per cent rise from KSh411 million in the comparable period of 2025.

Total income grew 33 per cent to KSh5.444 billion and customer deposits increased 29 per cent to KSh97.3 billion, while the non-performing loan ratio stood at 16.9 per cent.