SBM Bank Kenya Ltd has reported a Ksh 202 million profit before tax for the first half of 2025, marking a significant turnaround from a Ksh 943 million loss during the same period in 2024. This milestone reflects the success of SBM Bank’s ongoing transformation under the leadership of CEO, Mr Bhartesh Shah, who took the helm in May 2024.
SBM Bank’s total assets grew to Ksh 105.7 billion, up from Ksh 92.6 billion in the first half of 2024. Customer deposit balances surged by 37% to Ksh 76.2 billion, driven by an expanding customer base and deepened relationships across key segments. Operating income rose by 65% year-on-year, reaching Ksh 2.8 billion from Ksh 1.7 billion in H1 2024. At the same time, total operating expenses declined by 2%, demonstrating strong cost discipline and operational efficiency.
Mr Shah said SBM Bank’s turnaround is underpinned by a sharpened focus on the mass affluent and entrepreneurial segments, the launch of innovative new products, and ongoing investment in efficient, customer-friendly digital platforms. Strategic collaborations with fintechs and ecosystem partners have further enhanced the bank’s ability to deliver seamless, secure, and scalable payment solutions.
The bank’s capital strength remains robust, with a core capital of Ksh 8.0 billion — well above the new CBK minimum of Ksh 3.0 billion required by the end of 2025. Its capital adequacy ratio stood at 16.0%, against a regulatory minimum of 14.5%, while liquidity stood at 45.9%, far exceeding the 20% statutory requirement.
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“Our performance affirms the strategic bets we’ve made — investing in intelligent digital platforms, launching innovative products, and forging partnerships that deliver more value to our customers. We are committed to becoming Kenya’s preferred payments bank by building for scale, speed, and trust. This is just the beginning of a bold new chapter for SBM.”
SBM Bank’s revitalised strategy continues to gain momentum, with clear wins in positioning itself as a digital-first, customer-centric institution. As the bank deepens its focus on technology, partnerships, and service excellence, it is well-positioned to meet the evolving needs of Kenya’s fast-growing middle class and business community.
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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