SBM Bank Kenya H1 Profit Surges 171%

SBM Bank Kenya posted a 171% rise in first-half pretax profit to 548 million shillings as deposits and loans grew and asset quality improved, with gross NPLs falling to 17.3% from 32.4%. The results were driven by higher net interest income and a 54% jump in non-funded income, supported by a 24% rise in customer deposits and strategic technology upgrades, including the Oracle FLEXCUBE 14.8 deployment.