SBM Bank Kenya Limited has reported a Ksh 202 million profit before tax for the first half of 2025, marking a strong recovery from a Ksh 943 million loss in the same period last year.
In a statement on July 23, SBM said the profit turnaround reflects the success of the bank’s transformation strategy under Chief Executive Officer Bhartesh Shah, who assumed leadership in May 2024.
As per the statement, the Bank’s total assets grew to Ksh105.7 billion, up from Ksh 92.6 billion in H1 2024.
Customer deposit balances also surged by 37% to Ksh76.2 billion, driven by an expanding customer base and deepened relationships across key segments.
SBM Operational Efficiency and Income Growth
In addition, operating income grew by 65% year-on-year, reaching Ksh2.8 billion from Ksh 1.7 billion, while total operating expenses declined by 2%, signalling improved cost management and operational efficiency.
“The 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,” read part of the SBM statement.
In addition, the Bank reported that its collaborations with fintechs and ecosystem partners have strengthened its ability to deliver secure, seamless, and scalable digital payment solutions to its customers.
The Bank’s capital position remains strong, with a Core Capital of Ksh 8.0 billion, more than double the CBK’s revised minimum of Ksh 3.0 billion effective end of 2025.
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Its capital adequacy ratio stood at 16.0%, above the 14.5% regulatory minimum, while liquidity was at 45.9%, far exceeding the statutory 20% requirement.
CEO Highlights Strategic Progress
“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,” SBM Bank Kenya CEO Bhartesh Shah stated.
“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,” he added.
The Bank’s refreshed strategy continues to yield results, with growing momentum in its repositioning as a digital-first, customer-focused institution.
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With increased investment in technology and service excellence, SBM Bank is well-positioned to support the needs of Kenya’s evolving middle class and business sector.
SBM Bank Kenya is a subsidiary of SBM Group Holdings, founded in Mauritius in 1973.
The Group operates in Mauritius, Kenya, India, and Madagascar and had a total asset base of approximately Ksh 1.2 trillion (USD 9.8 billion) as of December 2024.
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