SBM Bank Kenya has financed a $4.44 million fleet expansion for Beyond Continents Logistics Ltd., enabling the logistics firm to acquire 50 heavy-duty trucks to support cargo transportation across East Africa.
The acquisition comprises 50 Shacman prime movers fitted with Bhachu trailers, which the company expects to strengthen its haulage capacity as regional trade and cross-border cargo volumes grow.
SBM Bank said it structured an asset-financing facility offering up to 100% financing for new vehicles, with repayment terms extending to 720 days. The package also includes commercial vehicle insurance coverage spread over 10 months to help manage the company’s cash flow.
“Access to flexible asset financing remains a critical catalyst for scaling businesses in Kenya and the wider region,” said Dennis Nyakundi, general manager of trade and transactional banking at SBM Bank Kenya.
Lawrence Ndushabandi, representing Beyond Continents Logistics, said the additional trucks would improve the company’s transport capacity and operational reliability as it serves local and regional importers and exporters.
The expansion comes as businesses across East Africa seek transport capacity to move goods through regional trade corridors. However, the extent to which the additional fleet will increase the company’s cargo volumes or reduce transport costs was not disclosed.
SBM Bank Kenya reported profit before tax of KSh548 million, up 171.3%, while net profit after tax reached KSh380.2 million, according to the financial figures provided in the announcement. Operating profit rose 279% to KSh852 million.
Customer deposits increased 24% to KSh94 billion, while net loans and advances grew 18% to KSh54.1 billion. Total assets stood at KSh109.9 billion.
The bank’s gross non-performing loan ratio declined to 17.3% from 32.4%, while shareholders’ equity rose to KSh11.1 billion.
The announcement did not specify the reporting period for the financial results.
