Stanbic Bank profit after tax has risen to Kh 3.5 billion in the first quarter of the year boosted by higher earnings from loan interests.
According to the lender, the 5pc profit jump from Ksh 3.3 was on account of net interest income which rose by 12pc to Ksh 7.6 billion from Ksh 6.7 billion on expanded loan book and prudent cost and risk management.
“Despite margin pressures in the first quarter of 2026 stemming from the lower interest rate environment, we responded decisively through disciplined cost and risk management, targeted lending growth, and continued expansion of our digital banking platforms, sustaining balance sheet momentum as private sector credit recovered,” said Dennis Musau, Stanbic Bank Chief Financial and Value Officer.
The bank says increased lending helped offset margin compressions from consecutive policy rate cuts.
Loans and advances grew by 6pc driven by foreign currency lending demand to clients in the trade, energy, building and construction sectors as the Central Bank of Kenya continued to ease its policy stance, aimed at stimulating lending and easing pressure on businesses and households.
Stanbic Bank Kenya Chief Executive Officer Abraham Ongenge said during the quarter to March this year, the bank’s balance sheet expanded by 23pc.
“We sustained balance sheet growth from mid‑2025, reflecting renewed momentum in the Kenyan economy, underpinned by improving market conditions and a rebound in private sector credit,” said Ongenge.
The balance sheet grew from Ksh 450 billion to Ksh 552 billion driven by higher customer deposits and the recovery of private sector, which picked to 8.1pc in March.
