Nairobi, Kenya – SBM Bank Kenya Limited has announced a remarkable financial turnaround.
The bank reported a KSh 412 million profit before tax for the nine months ending September 30, 2025.
This result marks a significant recovery from its previous performance. In the same period a year earlier, the bank had posted a substantial KSh 1.3 billion loss.
This positive milestone reflects the success of the bank’s comprehensive transformation, which began under the leadership of Chief Executive Officer Bhartesh Shah. Mr Shah assumed the role in May 2024 to drive this change.
What are SBM bank’s assets?
Key financial metrics demonstrate strong underlying growth. The bank’s total assets increased to KSh 104.0 billion, up from KSh 97.5 billion recorded in Q3 2024.
Customer deposit balances also rose substantially, growing by 20% year-on-year to KSh 75.2 billion. This reflects the bank’s consistent focus on building deeper customer relationships and its success in serving retail, mass affluent, and business clients.
Operational efficiency was a crucial factor in reversing losses. Operating income rose by 65% to reach KSh 4.3 billion.
At the same time, the bank successfully contained its spending. Total operating expenses decreased by 3.5%. This decline demonstrates prudent cost management and improved operational efficiency across the institution.
SBM Bank’s strategy prioritised digitisation and product innovation. The bank enhanced its flagship Mfukoni mobile banking app.
Customers can now manage card services securely from their phones, with new features including PIN resets and real-time alerts.
These improvements are part of the bank’s shift towards a Zero Trust Architecture, a robust framework that reinforces cybersecurity across all digital touchpoints.
Strategic partnerships were also strengthened during the quarter. The bank expanded its card issuance and payment capabilities with Mastercard and continued to scale up real-time interbank transfers facilitated through the PesaLink platform.
SBM Bank products performance
The investment product portfolio received a positive customer response. The Platinum Saver Account gained momentum, offering high returns of 9% in Kenyan Shilling and 4% in USD.
The Custodial and Fixed Income desk continued its successful fractional Eurobond offering. Furthermore, the Jijenge Biashara product is supporting small businesses by allowing MSMEs to borrow up to twice their savings, boosting business resilience.
The bank maintains excellent capital health and liquidity. Core capital stands at KSh 7.7 billion, well above the KSh 3.0 billion minimum set by the Central Bank of Kenya (CBK).
The capital adequacy ratio is 15.2%, exceeding the 14.5% regulatory requirement. Liquidity is robust at 42.9%, significantly surpassing the 20% statutory minimum.
CEO Bhartesh Shah praised the dedicated execution of the strategy, stating that the results reflect disciplined implementation of the turnaround plan.
“Our performance this quarter reflects the disciplined execution of our turnaround strategy and the power of customer-led innovation. Through smarter digital platforms, relevant products, and strong partnerships, we are delivering a bold, secure, and modern banking experience. We remain committed to driving inclusive financial growth and becoming Kenya’s preferred payments and savings bank,” said Shah.
The bank remains committed to driving inclusive financial growth. SBM Bank is well-positioned to sustain this momentum into the final quarter, with continued performance expected to deliver long-term value to stakeholders.
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