SBM Bank Kenya, a fast growing tier 2 lender with its Headquarters in Mauritius, has posted a net profit of KSh 380.17million for the six months’ period ended June 30th 2026, becoming the first bank off the starting blocks as the H1 2026 earnings season begins.
This profitability is attributed to a 18.5% increase in net interest income to KSh 2.18billion and a 43.7% rise in non-interest income to KSh 1.40billion, despite a 69.3% increase in the loan-loss provision charge.
“These results are about far more than stronger profitability. They demonstrate the continued strengthening of our institution. Over the past two years, we have deliberately focused on building a bank with higher quality earnings, disciplined risk management, a resilient balance sheet and agility to respond quickly to our customer’s evolving needs. The first half of 2026 provides further evidence that this strategy is delivering sustainable value,” said Bhartesh Shah, SBM Bank Chief Executive Officer.
He said the continued growth in customer deposits is particularly encouraging because it reflects trust. Customers choose banks they believe are financially strong, well governed and committed to supporting them over the long term. Preserving and strengthening that confidence remains at the centre of every decision we make, “said Shah.
SBM Bank’s Net loans and advances increased by 18% to KSh 54.1 billion, supporting households and businesses across Kenya. Gross non-performing loans ratio improved materially to 17.3% from 32.4% a year earlier. Total assets increased to KSh 109.9 billion while shareholder equity rose to KSh 11.1 billion.
Net interest income grew to KSh 2.2 billion while non-funded income rose by 54% to KSh 1.39 billion, driven by higher customer activity and transaction volumes. Total operating income increased by 35%, substantially outpacing the 12% growth in operating expenses and generating strong positive operating leverage despite continued investment in technology and infrastructure.
Pre-tax profit rose almost four-fold to KSh 852 million while customer deposits increased by 24% to KSh 94 billion, demonstrating growing confidence in the Bank.
SBM Bank H1 2026 results. Key Highlights
- Net interest income: 18.5% to 2.18bn
- Non-interest income: 43.7% to 1.40bn
- Total operating income: 27.2% to 3.58bn
- Loan loss provision charge: 69.3% to 323.25M
- Pre-tax profit: 170.8% to 547.01M
- Net Profit: 88.2% to 380.17M
- Total assets: 4.0% to 109.88billion
- Net loans and advances: 18.3% to 54.09billion
- Customer deposits: 23.5% to 94.03billion
- Gross Non Performing Loans : declined 42.4% to 9.69billion
- Non Performing Loans provisions stock: fell 52.7% to 3.58billion
- Core capital: up 13.4% to 9.05billion
- Total capital: up 13.5% to 9.82bn
SBM Bank Kenya is a leading financial institution with an international footprint, recognised as a top bank in Kenya, headquartered in Mauritius and positioned to offer an unprecedented banking experience in Kenya to retail, SME and corporate clients.
SBM Bank Corporate Profile
Following approval by the Central Bank of Kenya, the bank started its operations in Kenya in May 2017 and currently has a branch network of 33 branches countrywide complemented by ATMs, mobile banking, online banking, extensive agency banking services and an available contact centre to match its client base of over 100,000.
Additionally, SBM Bank Kenya operates as an Authorised Depository and as an Authorised Securities Dealer following a license issuance by the Capital Markets Authority.
In 2017, SBM Holdings bought Fidelity Commercial Bank, which was a tier3 bank with 14 branches. SBM concluded the acquisition of Fidelity Commercial bank and renamed it SBM Bank Kenya Ltd. The process was concluded and the bank renamed to SBM Bank Kenya Ltd.
Then the following year, SBM Bank Kenya bought majority of assets and liabilities of Chase Bank Kenya Limited, (In Receivership) which it absorbed with tacit assistance of CBK which was keen to revive the two collapsed banks, Fidelity and Chase, into SBM Bank Kenya Ltd.
SBM origins begin in 1998 when it opened a branch in Hyderabad, India. The lender commenced banking operations in Madagascar in January via fully owned subsidiary, Banque SBM Madagascar. Then in 2016, SBM Group reached an agreement to acquire the bank.
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