SBM Bank Kenya has posted a Sh283.41 million net profit for the nine months ended September 2025, marking a turnaround from a Sh1.34 billion net loss posted by the lender in a corresponding period last year.
SBM’s latest financial disclosures show that net interest income during the period rose 95.5 percent to Sh2.76 billion up from Sh1.41 billion last year, while non-interest income grew 29.8 percent to Sh1.54 billion from Sh1.19 billion.
The income growth elevated the bank’s earnings as it marginally lowered its operating expenses to Sh3.89 billion from Sh3.94 billion in a similar period last year.
The lender’s staff costs during the nine-month period remained unchanged at Sh1.75 billion, while provision for bad debts rose 63.6 percent to Sh235.4 million up from Sh143.9 million.
“Our performance 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,” said SBM Bank Kenya CEO Bhartesh Shah.
“We remain committed to driving inclusive financial growth and becoming Kenya’s preferred payments and savings bank.”
The profit return comes as a boost to a bank that spent the whole of last year in the red, closing with a net loss of Sh1.07 billion in a period its parent company SBM Holdings injected fresh capital worth Sh471 million.
Last year’s loss was mainly driven by a decrease in net interest income to Sh2.15 billion from Sh3.81 billion due to interest expenses rising at a faster pace than interest income.
SBM Holdings entered Kenya in May 2017 through the acquisition of Fidelity Commercial Bank for a $1 (Sh129) consideration and renamed it SBM Bank Kenya before making a $20 million (Sh2.59 billion) capital injection.
The Mauritius-headquartered lender in August 2018 also acquired certain assets and liabilities of the then-under-receivership Chase Bank Kenya for 162,158 Mauritian rupees (about Sh456,000 at current exchange rate) and added them to SBM Bank Kenya. The group made a commitment to inject $60 million (Sh7.74 billion).
The lender has been shifting focus to the affluent and entrepreneurial segments through launch of new products and investing in digital platforms.
In addition, it has entered into several strategic collaborations with fintechs and ecosystem partners to enhance capabilities of its payment solutions.
The lender is carrying in its books an accumulated loss of Sh2.38 billion.
