SBM Bank profit jumps to Sh246mn in Q1

Customer deposits rose by 23 percent year-on-year to Sh89 billion, while total assets increased to Sh109.5 billion from Sh102.9 billion, reflecting an expanding customer base and deeper engagement across segments. Kenya breaking news | Kenya news today |..

✨ Key Highlights

SBM Bank has reported a significant jump in its first-quarter profit, reaching Sh246 million before tax, a substantial increase from Sh12 million in the same period last year.

Profit before tax grew to Sh246 million from Sh12 million year-on-year.
SBM Bank attributed the profit surge to growth in customer deposits and non-funded income.
Key figures contributing to the growth include a 23 percent rise in customer deposits to Sh89 billion and a 55 percent increase in non-interest income to Sh673 million.

Continue Reading

Read the complete article from Capital Business

📰 Read Full Article

Related News

2h ago

Ruto to address Tanzania MPs after landmark bilateral agreements

President Ruto is scheduled to address Tanzania’s parliament on Tuesday, where his speech is expected to highlight the need for closer ties between the two East African nations. This even as Kenya and Tanzania Monday signed eight agreements to deepen bilateral ties and streng

KBC County News

📰 Read Full Story