SBM Bank bounces back to profitability with Sh202mn

NAIROBI, Kenya, July 24 - SBM Bank Kenya's gross profit grew to Sh202 million in the first quarter of this year, buoyed by improved operating income. This Kenya breaking news | Kenya news today |..
✨ Key Highlights
SBM Bank Kenya has reported a gross profit of Sh202 million in the first quarter of this year, marking a significant recovery from a Sh943 million loss during the same period last year.
- Operating revenue rose by 65 percent to Sh2.8 billion
- Bhartesh Shah, CEO of SBM Bank Kenya, emphasized the bank's commitment to becoming Kenya’s preferred payments bank
- Customer deposits surged by 37 percent to Sh76.2 billion, with total assets increasing to Sh105.7 billion
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