SBM Bank Kenya announced on Tuesday October 27, 2026 a memorandum of understanding with Global Motors Centre Limited to provide financing of up to 95 per cent of the purchase price of new Jetour sport-utility vehicles.

The facility covers the Dashing, X70 Plus, T1 and T2 models launched in Kenya in November 2025, with prices ranging from KSh4.9 million for the Dashing to KSh7.8 million for the T2, requires a 5 per cent deposit – KSh245,000 on the Dashing and KSh390,000 on the T2 – and is repayable over up to 72 months; the borrowed amount on a Dashing would be about KSh65,000 a month before interest, and comprehensive motor insurance and its premium are financed as part of the deal.

Earlier in 2026 Absa Bank Kenya and Equity Bank each announced 100 per cent financing for Jetour SUVs, the former in April and the latter in July, but none of the three banks disclosed the interest rates that will determine the overall cost of borrowing.

The partnership comes as Chinese vehicle brands increase their share of new-vehicle sales in Kenya to 7.46 per cent in the ten months to October 2025, up from 0.49 per cent in 2021, while new-vehicle sales rose 12.2 per cent year-on-year between January and April 2026 and the market remains dominated by 7,000 to 9,000 used-car imports per month; the Central Bank of Kenya’s benchmark rate has been held at 8.75 per cent since February 2026 after ten consecutive cuts.

SBM Bank Kenya reported profit before tax of KSh911 million for the nine months ended September 30, 2026, more than double the KSh411 million in the comparable period of 2025, with customer deposits rising 29 per cent to KSh97.3 billion, net loans up 23 per cent to KSh56.5 billion and the non-performing loan ratio falling to 16.9 per cent from 32.3 per cent a year earlier.

“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.

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