SBM Bank Kenya has reported a Sh412 million profit before tax for the nine months ending September 30, 2025, marking a strong recovery from a Sh1.3 billion loss recorded in the same period last year.

The turnaround is attributed to improved efficiency, cost control, and a focus on digital and customer-led innovation under CEO Bhartesh Shah, who took over in May 2024.

The bank’s total assets grew to Sh104 billion from Sh97.5 billion, while customer deposits rose 20 percent year-on-year to Sh75.2 billion.

Operating income climbed to Sh4.3 billion, with total operating expenses down 3.5 percent.

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SBM credited its performance to new digital products, including upgrades to the Mfukoni mobile app for card management and a partnership with Mastercard to expand card issuance and payment services.

Its Jijenge Biashara product for MSMEs and Platinum Saver Account, offering returns of 9 percent in shillings and 4 percent in dollars, also drove growth.

SBM’s capital position remains strong with core capital of Sh7.7 billion, above the Central Bank’s minimum threshold, and a liquidity ratio of 42.9 percent.

Shah said the results reflect “disciplined execution of the bank’s turnaround strategy” and reaffirm its ambition to become Kenya’s preferred payments and savings bank.