SBM Bank posts Sh202m half-year profit on higher customer deposits

SBM Bank Kenya CEO, Bhartesh Shah, during a courtesy call at the Standard Group headquarters, on February 11, 2025. [File, Standard]

SBM Bank Kenya has reported a profit after tax of Sh202 million over the first six months of this year, marking an improvement from a loss of Sh943.1 million over a similar period last year.

The bank said that among the factors that drove the turnaround were an expanded customer base, which grew as the bank sought to grow its presence in Kenya, as well as deepen relations with existing clientele.