SBM Bank Kenya posts KSh12.39M ($82K) Q1 2025 profit after SME and digital pivot. Its parent, SBM Mauritius, is rated Ba3 and operates across Africa and India.
Nairobi, Kenya — April 2025 — SBM Bank Kenya Ltd has reported a net profit of KSh12.39 million (approx. USD 82,000) for the first quarter ending March 31, 2025, signaling a cautious rebound after a year of financial restructuring and strategic realignment.
“We’ve realigned our strategy to focus on sectors that drive real impact in the Kenyan economy — and that’s largely SMEs,”
— Bhartesh Shah, CEO, SBM Bank Kenya
Appointed in May 2024, Shah has led the bank’s shift toward small and medium-sized enterprises (SMEs) and digital financial services, steering the bank away from legacy challenges inherited during its market entry phase.
Betting Big on Kenya’s SME Sector
In March 2025, SBM launched dedicated business hubs in key Nairobi areas—CBD, Kilimani, and Karen—to serve SMEs with:
- Financial advisory
- Working capital solutions
- Co-working spaces
The bank also partnered with the African Guarantee Fund on a USD 10 million risk-sharing facility, unlocking funding for women-led and youth enterprises traditionally deemed high-risk.
Related: How Kenyan banks are financing women entrepreneurs
Also read: CBK lifts decade-long freeze on bank licenses
From Acquisition to Adaptation: SBM’s Journey in Kenya
SBM Bank Kenya entered the market in May 2017 through the acquisition of Fidelity Commercial Bank. In 2018, the lender expanded rapidly by acquiring select assets and liabilities of the collapsed Chase Bank Kenya, which had been placed under receivership by the Central Bank of Kenya (CBK).
This acquisition expanded SBM’s branch network by 52 locations, making it one of Kenya’s top 15 banks by footprint.
Learn more: How SBM acquired Chase Bank’s assets
Related: Kenya’s evolving banking landscape post-2015 bank collapses
A Global Backer: SBM Holdings of Mauritius
SBM Bank Kenya is a subsidiary of SBM Holdings Ltd, the second-largest banking group in Mauritius with:
- USD 6.4 billion in total assets (2023)
- Operations in Mauritius, Kenya, India, Madagascar, and Seychelles
- A Ba3 credit rating from Moody’s Investors Service, with a stable outlook
SBM Holdings is listed on the Stock Exchange of Mauritius and has been featured in The Banker’s Top 1000 World Banks, underscoring its rising global influence.
See also: SBM Group 2023 Annual Report
Outlook: A Foundation Year for Growth
Despite the modest profit, insiders view 2025 as a “foundation year” for sustained growth.
“We’re not chasing aggressive profits — we’re laying tracks for sustainable growth,” said a senior SBM executive.
As of April 2025, SBM Kenya’s total assets stand at approximately KSh76 billion (USD 505 million), with strategic lending skewed toward:
- Trade finance
- SMEs
- Digital retail banking
Related: How digital banking is reshaping Kenya’s financial inclusion
Internal Links for Deeper Insights
The rise of SME-focused banking in Kenya
Top-performing banks in Kenya Q1 2025
SBM Group’s role in East Africa’s financial ecosystem
