SBM Bank Q1 pretax profit surges 20-fold to Sh246m

SBM Bank Limited has reported a 20-fold increase in pre-tax profits to Sh246m for the first quarter ended March 31, 2025, up from Sh12m reported during the same period a year earlier.

PWBy: Ian
IN BRIEF:
  • Net interest income: +18.6% to Sh1.06B
  • Non interest income: +55% to Sh673m
  • Operating income: +30.6% to Sh1.73B
  • Loan loss provision: +27% to Sh158m
  • Profit after tax: +1281% to Sh171m
  • Customer deposits: +23% to Sh89B
  • Loan Book: +9.5% to Sh48.5B
  • Gross non performing loans: -41% to Sh10B
SBM Bank Limited has reported a pretax profit of Sh246m for the first quarter ended March 31, 2026, representing a 20-fold increase compared to Sh12.6m in the first quarter in 2025, driven by strong growth in non interest income.
Net-interest income grew by 18.6 per cent to Sh1.1 billion supported by disciplined funding cost management, with interest expenses down 15% year-on-year.
The lender’s operating income grew 31 per cent to Sh1.7 billion due to strong growth in non interest income, which rose 55 per cent to Sh673 million driven by higher transaction volumes across digital and payments channels.
Total assets grew by 6.4 per cent to Sh109.5 billion while customer deposits grew 23 per cent to Sh89 billion, driven by an expanding customer base and deeper engagement across segments.
Asset quality improved significantly, with gross non-performing loans declining 41 per cent to Sh10 billion and the non-performing loan ratio improving from 33.8 per cent to 19.8 per cent.
SBM Bank maintained a strong capital and liquidity position during the period, with core capital at Sh7.8 billion, well above regulatory requirements, and a liquidity ratio of 50.4 per cent, significantly exceeding the statutory minimum, providing capacity to support future growth.
Commenting on the results, SBM Bank Kenya Chief Executive Officer Bhartesh Shah said:
“These results are not an accident. Since I took office, we have reset how the Bank is run through tighter execution, clearer accountability, and a relentless focus on customer activity. Q1 shows the payoff: stronger earnings quality, stronger deposits, and a cleaner book.”
“We are building a different kind of bank in Kenya, a payments-led bank that customers trust for everyday transactions. When you win transactions, you win the relationship, and the economics follow. From 1 May, we have made PesaLink transfers free to customers ultimately removing friction and accelerating adoption and you can already see that direction in our non-funded income growth and digital momentum.”
During the quarter, the bank launched, the Busara Banking App, an innovation designed around real customer needs and built to help parents raise money‑smart children through every day, guided saving and spending. Busara is the first solution of its kind in Kenya, the first in Africa.
Looking ahead, the Bank says it will continue to invest in technology-driven innovation, payments infrastructure and customer-centric solutions to accelerate transaction growth, deepen deposits and further strengthen asset quality.




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