Sidian Bank has posted a net profit of KSh 556.9 million, up 250% year-on-year from KSh 159.1 million in Q1 2024, on the back of revenue growth.
- •The lender’s net interest income rose 84.6% to KSh 1.04 billion, fueled by higher lending volumes and strong returns from government securities.
- •Non-interest income climbed 55.3% to KSh 722.9 million, supported by fees, commissions, and dividend income.
- •In 2023, the lender’s majority shareholder Centum Investments ceded almost half of its stake to other shareholders led by Pioneer General Insurance, Wizpro Enterprises and Afram Ltd.
The remarkable growth in profits was somewhat damped as operating expenses surged 256% to KSh 809.9 million due to increased staffing, compliance costs, and digital infrastructure investments.
| Metric | Q1 2025 | Q1 2024 | YoY Change |
|---|---|---|---|
| Net Interest Income | KSh 1.04Bn | KSh 565.2M | ▲ 84.6% 🟢 |
| Non-Interest Income | KSh 722.9M | KSh 465.4M | ▲ 55.3% 🟢 |
| Total Operating Income | KSh 1.77Bn | KSh 1.03Bn | ▲ 71.4% 🟢 |
| Profit After Tax | KSh 556.9M | KSh 159.1M | ▲ 250.0% 🟢 |
| Loan Book (Net Advances) | KSh 26.25Bn | KSh 24.86Bn | ▲ 5.6% 🟢 |
| Operating Expenses | KSh 809.9M | KSh 227.4M | ▲ 256.2% 🔴 |
| Loan Loss Provision | KSh 168.0M | KSh 145.0M | ▲ 15.9% 🔴 |
Its loan book grew 5.6% to KSh 26.25 billion, while customer deposits surged 62% to KSh 50.25 billion.
The bank’s liquidity ratio reached 69%, far above the 20% regulatory minimum, while core capital to risk-weighted assets ratio stood at 12.4%, against the statutory minimum of 10.5%.
