SBM Bank Kenya Limited has reported a Ksh 412 million profit before tax for the nine-month period ended September 30, 2025. This represents a significant turnaround from a Ksh1.3 billion loss reported in the same period last year.
This milestone reflects the success of SBM Bank’s ongoing transformation under the leadership of Chief Executive Officer Bhartesh Shah, who took the helm in May 2024.
The Bank’s Total Assets grew to KSh 104.0 billion, up from KSh 97.5 billion in Q3 2024. Customer deposit balances rose by 20% year-on-year to KSh 75.2 billion, reflecting the bank’s continued focus on building deeper customer relationships and serving the evolving needs of its retail, mass affluent, and business clients.
Operating income went up to 65% to KSh 4.3 billion from 62% and KSh 4.2 billion in Q3 2025. Meanwhile, total operating expenses declined by 3.5%, demonstrating prudent cost management and enhanced operational efficiency.
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SBM Bank’s strong Q3 performance has been supported by a clear focus on product innovation, digitization, and partnerships. The SBM Bank enhanced its Mfukoni mobile banking app to allow customers to manage card services securely via their phones, including PIN resets, card blocking/unblocking, and real-time alerts. These improvements are part of the Bank’s broader shift towards a Zero Trust Architecture, reinforcing cybersecurity across all digital touchpoints.
During the quarter, the SBM Bank also strengthened its partnership with Mastercard, expanding card issuance and payment capabilities, and continued to scale real-time interbank transfers through PesaLink, reinforcing its ambition to be Kenya’s preferred payments bank.
In the investment space, SBM recorded positive customer response to the Platinum Saver Account, which offers market-leading returns of 9% in KES and 4% in USD, and continued momentum on the fractional Eurobond offering via its Custodial and Fixed Income desk. The Jijenge Biashara product, which allows MSMEs to borrow up to twice their savings, continued to grow in uptake, supporting business resilience and access to capital.
The Bank’s capital strength remains robust, with a Core Capital of KSh 7.7 billion—well above the new CBK minimum of KShs. 3.0 billion required by the end of 2025. Its capital adequacy ratio stood at 15.2%, against a regulatory minimum of 14.5%, while liquidity stood at 42.9%, far exceeding the 20% statutory requirement.
Commenting on the results, SBM Bank Kenya CEO Bhartesh Shah said: “Our performance this quarter reflects the disciplined execution of our turnaround strategy and the power of customer-led innovation. Through smarter digital platforms, relevant products, and strong partnerships, we are delivering a bold, secure, and modern banking experience. We remain committed to driving inclusive financial growth and becoming Kenya’s preferred payments and savings bank.”
SBM Bank’s revitalised strategy continues to deliver tangible results across customer growth, product uptake, and digital adoption. As it enters the final quarter of the year, the Bank is well-positioned to sustain its momentum and deliver long-term value to its customers and stakeholders.
SBM Bank Kenya is a wholly owned subsidiary of SBM Group Holdings, established in Mauritius in 1973 and listed on the Stock Exchange of Mauritius. The Group operates in Mauritius, Kenya, India, and Madagascar with a total asset size of approximately KShs. 1.2 trillion (USD 9.8 billion) as of December 2024.
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