Kenya SBM Bank Limited CEO Bhartesh Shah has reported a profit before tax of Ksh412 million for the nine months ending September 30, 2025, marking a significant turnaround from a Ksh1.3 billion loss in the same period last year.
The bank’s total assets rose to Ksh104 billion from Ksh97.5 billion a year earlier, while customer deposits increased 20% to Ksh75.2 billion. Operating income grew by 65% to Ksh4.3 billion, supported by a 3.5% reduction in operating expenses, reflecting tighter cost control.
The stronger performance is attributed to SBM’s focus on digital banking, new product offerings, and operational efficiency. Enhancements to the Mfukoni mobile app now include self-service card management and improved security features, part of the bank’s shift toward a Zero Trust digital framework.
SBM also strengthened its payments business by expanding partnerships with Mastercard and scaling up real-time interbank transfers via PesaLink.
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In the investment segment, the bank saw strong uptake of its Platinum Saver Account, offering returns of 9% in Kenyan shillings and 4% in US dollars. The Jijenge Biashara product, which allows MSMEs to borrow up to twice their savings, continued to attract demand.
The bank’s core capital stood at Ksh7.7 billion, more than double the Central Bank of Kenya’s new minimum requirement of Ksh3 billion, with capital adequacy at 15.2%, above the 14.5% regulatory threshold. Liquidity remained strong at 42.9%.
CEO Bhartesh Shah said the performance reflects disciplined execution of the turnaround strategy and the bank’s continued focus on innovation and meeting customer needs.
By Obegi Malack
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