SBM Bank Kenya Reports 88% Rise in Half-Year Net Profit

SBM Bank Kenya announced that its net profit for the six‑month period ended 30 June 2026 rose 88 percent to approximately KSh 380 million. The earnings boost came as deposit‑costs fell and earnings from both interest and non‑interest sources surged. Net interest income increased 18.5 percent to KSh 2.18 billion, while non‑interest income, driven largely by transaction fees, jumped 43.7 percent to KSh 1.40 billion.

Loan loss provisions rose sharply by about 69 percent, yet loan and advance balances grew 18 percent to KSh 54.1 billion. Total assets reached KSh 109.9 billion and shareholder equity climbed to KSh 11.1 billion. Customer deposits expanded 24 percent to KSh 94 billion, reflecting heightened confidence. The bank highlighted technology‑driven offerings such as enhanced Mastercard functionality, the Busara Kids Banking app, an expanded loyalty programme and free PesaLink transfers up to KSh 1 million as strategic enablers of growth. CEO Bhartesh Shah said the results demonstrate the success of its focus on higher‑quality earnings, disciplined risk management and resilient balance‑sheet management.