SBM Bank Kenya Posts Ksh246 Million Profit in 2026 Q1 

SBM Bank Kenya has reported a sharp rise in profitability for the first quarter of 2026, posting a profit before tax of Ksh246 million, up from Ksh12 million recorded during a similar period last year. 

The bank’s performance in the first three months is attributed to the lender’s turnaround strategy anchored on digital banking, payments and customer growth.

In a statement by the bank on Tuesday, May 5, the lender added that the improved performance had been achieved following tighter cost management, stronger customer activity and increased investment in digital banking infrastructure.

During the first three months of 2026, customer deposits rose by 23 per cent year-on-year to Ksh89 billion, while total assets grew to Ksh109.5 billion from Ksh102.9 billion. 

At the end of the quarter, SBM reported that it had disbursed loans amounting to Ksh48.5 billion to its customers, while Ksh44 billion was invested in government securities.

Net interest income stood at Ksh1.1 billion during the quarter, supported by a 15 per cent reduction in interest expenses as the bank tightened funding costs.

Non-interest income also recorded significant growth, rising by 55 per cent to Ksh673 million on the back of increased transaction volumes across digital and payment platforms.

Gross non-performing loans declined by 41 per cent to Ksh10 billion, reducing the NPL ratio from 33.8 per cent to 19.8 per cent within a year.

SBM Bank Kenya Chief Executive Officer Bhartesh Shah said the results reflected the lender’s deliberate restructuring strategy since he took office.

“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,” he stated.

He noted that the lender is positioning itself as a payments-led bank focused on winning customers through daily transactions and digital convenience.

As part of that strategy, SBM made PesaLink transfers free from May 1, 2026, in a move aimed at increasing usage of instant digital payments and growing transaction volumes.

 “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,” he added.

“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.”

The bank also launched the Busara Banking App, a digital financial literacy platform designed to help parents teach children saving and spending habits.

Looking ahead, the lender said it will continue investing in payments infrastructure, digital innovation and customer-centric products to deepen deposits and grow transactions.