SBM Bank Kenya announced nine-month pre-tax profit of Ksh911 million in Nairobi on 14 Oct 2026 as customer deposits increased and its bad-loan ratio declined.

The bank’s unaudited statements cover the period ended 30 Sep 2026 and identify the headline profit as the consolidated figure.

The results matter to Kenyan businesses because they show expanding lending alongside efforts to address older problem loans.

“Strong institutions are built through decisions that reinforce one another over time,” SBM Bank Kenya chief executive officer Bhartesh Shah said.

The bank’s press release put pre-tax profit growth at 122 per cent from Ksh411 million in the corresponding period of 2025.

The attached statements show consolidated pre-tax profit of Ksh910.7 million against Ksh412 million a year earlier.

They separately put standalone bank pre-tax profit at Ksh845.4 million compared with Ksh401.3 million in the corresponding period.

According to the statements, standalone profit after tax reached Ksh547.2 million and consolidated profit after tax stood at Ksh591.3 million.

The bank said customer deposits rose 29 per cent year-on-year to Ksh97.3 billion by the end of September.

It said net loans and advances increased 23 per cent to Ksh56.5 billion over the same period.

“The growth in deposits is encouraging because it reflects customer confidence,” Shah said.

The bank said its non-performing loan ratio fell to 16.9 per cent from 32.3 per cent a year earlier.

It said the ratio also declined from 17.3 per cent at 30 Jun 2026 as work continued on its legacy loan book.

The statements nevertheless show gross non-performing loans increased to Ksh9.9 billion in September from Ksh9.7 billion in June.

This distinction shows that a falling bad-loan ratio does not necessarily mean the stock of problem loans has declined.

The bank said loans approved since Shah took office in May 2024 had a non-performing loan ratio of one per cent.

“Our responsibility is to sustain that discipline as the portfolio matures and lending grows,” Shah said.

The statements show the total capital adequacy ratio stood at 15.4 per cent against a minimum statutory requirement of 14.5 per cent.

They also show a liquidity ratio of 47.6 per cent against the statutory minimum of 20 per cent.

The bank said it completed an upgrade to Oracle FLEXCUBE 14.8 and migrated to the iCUST loan-origination platform.

It said its next phase would focus on daily use of these systems to improve credit decisions and turnaround times.

The bank said digital onboarding and mobile-banking improvements remained in progress as it focused on customer adoption and service stability.