SBM Bank records 30pc jump in loans and advances

SBM Bank branch along Kaunda Street, Nairobi, November 19, 2022. [Elvis Ogina, Standard]

SBM Bank Kenya has reported a 30 per cent increase in loans and advances for the third quarter ending September 30, 2022 compared to a similar period last year.

Net loans and advances rose to Sh36.3 billion in the third quarter from Sh27.9 billion in quarter three of last year. The bank reported a total asset position of Sh82.3 billion as of September 30 this year, a 1.7 per cent increase from Sh80.9 billion reported in a similar period last year.