NAIROBI, Kenya, July 24 – SBM Bank Kenya’s gross profit grew to Sh202 million in the first half of this year, buoyed by improved operating income.
This represents a bounce back from a loss of Sh943 million during the same period last year.
In H1, its operating revenue jumped by 65 percent to Sh2.8 billion in comparison to the first half of 2024. At the same time, total operating expenses declined by 2 percent.
“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 said.
“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.”
While customer deposits surged by 37 percent to Sh76.2 billion, driven by an expanding customer base and deepened relationships across key segments, total assets grew to Sh105.7 billion, up from Sh92.6 billion in H1 2024.
The bank’s core capital also stood at Sh8 billion, above the new CBK minimum requirement of Sh3.0 billion.
“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.”
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 Sh1.2 trillion as of December 2024.
