Stanbic Bank Kenya has reported a 5% year-on-year increase in profit after tax to KES 3.5 billion for the first quarter of 2026.
The lender’s performance which is up from KES 3.3 billion in Q1 2025, was driven by double-digit balance sheet growth and disciplined cost and risk management. Loans and advances grew by 6%. There was also increased demand for foreign currency lending coming from sectors such as trade, energy and construction.
This growth comes as the Central Bank of Kenya continued to ease monetary policy.
Stanbic’s balance sheet expanded by 23% to KES 552 billion, up from KES 450 billion. This was driven by higher customer deposits and a recovery in private sector credit, which rose to 8.1% in March.
Net interest income grew 12% to KES 7.5 billion, even as lower Treasury bill rates weighed on asset yields. The bank maintained operating expenses within inflationary levels through cost discipline.
Chief Executive Abraham Ongenge said, “The double digit Q1 growth was driven by higher customer deposits reflecting the trust our customers continue to place in our brand, which we efficiently deployed into lending, interbank placements and financial investments,”
Stanbic also pointed to continued investment in digital financial services, rolling out customer-focused solutions across savings and investment products to meet evolving market needs.
Dennis Musau, the Chief Financial and Value Officer said, “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.”
The bank’s credit loss ratio improved to 0.44% from 0.57%, while financial investments rose 70% year-on-year.
With a core capital ratio of 14.59%, above the regulatory minimum, Stanbic says it is well-positioned to accelerate growth and expand financial access for businesses and individuals.
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