Stanbic Bank Kenya delivered a solid first quarter in 2026, growing profit after tax by 5.5% to KES 3.52 billion, up from KES 3.33 billion in the same period last year.
The results, released on 6 May 2026, reflect disciplined cost management and a rapidly expanding balance sheet.
Lending Business Drives Revenue
Net interest income climbed 11.7% to KES 7.57 billion, powered by a 4.7% rise in total interest income and a 6.4% reduction in interest expenses. That combination widened the bank’s lending margins considerably and anchored overall revenue growth.
Non-interest income, however, fell 13.8% year-on-year to KES 2.38 billion, down from KES 2.76 billion. The decline tempered total operating income, which still rose 4.3% to KES 9.95 billion.
Cost Cuts and Provisions Lift Pre-Tax Profit
Profit before tax surged 20.5% to KES 4.92 billion, a result that tells a sharper story than the headline PAT figure. Two factors explain the gap between the two profit lines. Operating expenses fell 7.8% to KES 5.03 billion, while loan loss provisions dropped 59.1% to KES 350.2 million from KES 855.5 million in Q1 2025. Together, these savings added considerable weight to the bottom line before the tax charge.
Earnings per share improved to KES 20.61 from KES 19.54, matching the 5.5% growth in net earnings.
Balance Sheet Crosses the Half-Trillion Mark
Total assets reached KES 551.7 billion, a 22.6% jump from KES 450.1 billion in March 2025. That milestone reflects both organic growth and strong deposit mobilisation.
Customer deposits rose 21.7% to KES 411.0 billion. Net loans and advances grew 5.8% to KES 258.2 billion, while total equity expanded to KES 73.41 billion from KES 68.65 billion.
Gross non-performing loans edged up 1.6% to KES 23.31 billion, a modest rise given the scale of the loan book.
Q1 2026 Financial Summary
| Metric | Q1 2026 | Q1 2025 | YoY Change |
|---|---|---|---|
| Total Interest Income | KES 11.53 Bn | KES 11.01 Bn | +4.7% |
| Interest Expense | KES 3.96 Bn | KES 4.23 Bn | -6.4% |
| Net Interest Income | KES 7.57 Bn | KES 6.78 Bn | +11.7% |
| Non-Interest Income | KES 2.38 Bn | KES 2.76 Bn | -13.8% |
| Operating Income | KES 9.95 Bn | KES 9.54 Bn | +4.3% |
| Total Operating Expenses | KES 5.03 Bn | KES 5.45 Bn | -7.8% |
| Loan Loss Provision | KES 0.35 Bn | KES 0.86 Bn | -59.1% |
| Profit Before Tax | KES 4.92 Bn | KES 4.08 Bn | +20.5% |
| Profit After Tax | KES 3.52 Bn | KES 3.33 Bn | +5.5% |
| Total Assets | KES 551.7 Bn | KES 450.1 Bn | +22.6% |
| Total Equity | KES 73.41 Bn | KES 68.65 Bn | +6.9% |
| Customer Deposits | KES 411.0 Bn | KES 337.6 Bn | +21.7% |
| Loans and Advances (Net) | KES 258.2 Bn | KES 244.0 Bn | +5.8% |
| Gross NPLs | KES 23.31 Bn | KES 22.94 Bn | +1.6% |
| Earnings Per Share | KES 20.61 | KES 19.54 | +5.5% |
Stock Performance Reflects Investor Confidence
Stanbic’s share price closed at KES 257.00 on 31 March 2026, a 58.9% gain year-on-year from KES 161.75 on the same date in 2025. That appreciation far outpaced the bank’s earnings growth, suggesting the market is pricing in continued balance sheet expansion and improved credit quality.
The Q1 2026 numbers reinforce that case. Falling provisions, lower costs, and a deposit base that grew by over KES 73 billion in twelve months give the bank both the capacity and the cushion to sustain momentum through the rest of the year.
