SBM Bank Kenya more than doubled its profit before tax to KSh 911 million for the nine months ended 30 September 2026, up from KSh 411 million in the same period last year.
Operating profit climbed 197 percent to KSh 1.3 billion from KSh 447 million a year earlier. Total income grew 33 percent to KSh 5.44 billion, supported by higher net interest income and stronger non-funded income, according to the bank’s unaudited results and reporting by multiple outlets including Financial Fortune Media and TechMoran.
Key Figures at a Glance
| Metric | Nine Months to Sept 2025 | Nine Months to Sept 2026 | Change |
|---|---|---|---|
| Profit before tax | KSh 411 million | KSh 911 million | +122% |
| Operating profit | KSh 447 million | KSh 1.3 billion | +197% |
| Total income | KSh 4.09 billion | KSh 5.44 billion | +33% |
| Net interest income | — | KSh 3.44 billion | +29% |
| Non-funded income | — | KSh 2.00 billion | +39% |
| Customer deposits | KSh 75.4 billion | KSh 97.3 billion | +29% |
| Net loans & advances | KSh 45.8 billion | KSh 56.5 billion | +23% |
| Gross NPL ratio | 32.3% | 16.9% | −15.4 pp |
Figures drawn from the bank’s unaudited results as reported on 14 October 2026.
Asset Quality Improvement
The non-performing loan ratio fell to 16.9 percent at 30 September 2026 from 32.3 percent a year earlier. The bank recorded a net impairment charge of KSh 418 million for the period as it continued to address the legacy loan book inherited from earlier acquisitions of Chase Bank and Fidelity Bank.
Loans underwritten since May 2024, when Chief Executive Officer Bhartesh Shah took office, carry a non-performing loan ratio of 1 percent, the bank said. Shah noted that the institution is working through the older portfolio while building a healthier book going forward.
Income and Balance Sheet Growth
Net interest income rose 29 percent to KSh 3.44 billion. Non-funded income increased 39 percent to KSh 2.00 billion, driven by a 95 percent jump in transactional fee income and a 98 percent rise in trade finance commissions. Operating costs grew 12 percent, below the pace of income growth.
Customer deposits expanded 29 percent year-on-year to KSh 97.3 billion, while net loans and advances rose 23 percent to KSh 56.5 billion. Profit after tax more than doubled to approximately KSh 591 million, according to reports citing the bank’s unaudited figures.
Systems and Outlook
SBM Bank Kenya has completed an upgrade of its core banking system to Oracle FLEXCUBE 14.8 and migrated to the iCUST loan origination platform. The bank says these changes are intended to support better credit decisions, service delivery and operational efficiency.
Read also:SBM Bank Kenya Profit Jumps 171% to Sh548 Million in H1 2026
The results mark a clear improvement from the same period in 2025. Continued progress will depend on how the bank manages the remaining legacy exposures while growing the newer, cleaner loan book.
Sources:
Financial Fortune Media – SBM Bank Kenya Pre-Tax Profit Soars to KES 911 Million in Q3 (14 October 2026)
TechMoran – SBM Bank Kenya Profit More Than Doubles to KSh911 Million
Money254 – SBM Bank Kenya Doubles Nine-Month Profit to Ksh911 Million
Bank unaudited results as reported 14 October 2026.