NAIROBI, Kenya, May 9 – SBM Bank Kenya has appointed Bhartesh Shah as the new Chief Executive Officer, effective today.
Shah takes over from Moezz Mir, who has been in that position for the past six years and has moved to pursue other interests.
The lender’s Board of Directors chairman, Sattar Hajee Abdoula, counted on Shah to lead the bank’s growth in the country.
“He is a well-suited candidate for the position. His strategic vision will drive essential business transformation to enhance the impact on economies and communities in our vicinity,” Abdoula added.
Shah has more than 20 years’ experience in the financial services industry, with a strong background in banking, operational management, people management strategy, and business acumen.
Prior to his appointment, he held big positions in several banks in Kenya, like I&M Group, Equity Group Holdings, and Standard Chartered Bank, among others.
“Under Shah’s leadership, the bank is poised to embark on a journey of innovation, collaboration and customer centricity. With a focus on delivering shareholder value and exceptional customer service experiences.”
As of the close of last year, the SBM Bank Kenya Group recorded a pre-tax profit of Sh130 million, which was an increase from Sh49 million in 2022.
Its 2023 improved result was supported by increase of net interest income from Sh3.2 billion in 2022 to Sh3.8billion in 2023.
