NAIROBI, Kenya, Nov 11 – SBM Bank Kenya has reported a Sh412 million profit before tax for the nine months ending September 30, 2025, marking a strong recovery from a Sh1.3 billion loss recorded in the same period last year.
The turnaround is attributed to improved efficiency, cost control, and a focus on digital and customer-led innovation under CEO Bhartesh Shah, who took over in May 2024.
The bank’s total assets grew to Sh104 billion from Sh97.5 billion, while customer deposits rose 20 percent year-on-year to Sh75.2 billion. Operating income climbed to Sh4.3 billion, with total operating expenses down 3.5 percent.
SBM credited its performance to new digital products, including upgrades to the Mfukoni mobile app for card management and a partnership with Mastercard to expand card issuance and payment services.
Its Jijenge Biashara product for MSMEs and Platinum Saver Account, offering returns of 9 percent in shillings and 4 percent in dollars, also drove growth.
SBM’s capital position remains strong with core capital of Sh7.7 billion, above the Central Bank’s minimum threshold, and a liquidity ratio of 42.9 percent.
Shah said the results reflect “disciplined execution of the bank’s turnaround strategy” and reaffirm its ambition to become Kenya’s preferred payments and savings bank.
