As we start the year 2025, SBM Bank Kenya takes pride in celebrating an extraordinary year of progress, innovation, and shared success. This year has seen us break new ground in fostering strategic partnerships, advancing customer-centric solutions, and earning recognition for our unwavering commitment to excellence.
This newsletter is a snapshot of our key milestones in the final quarter of the last year. Among the highlights are our partnership with CBI Netherlands to empower cross-border trade, our sponsorship of the prestigious Muthaiga Golf Club Lady Captains Tournament, and the accolades we received at the Global Brand Awards. These achievements signify not just progress but a promise to continue delivering value to you, our cherished customers.
A key highlight for the year was our turtle conservation initiative that created value and impact in the Kenyan coast, in view of our sustainability focus. We also launched the Platinum Saver Kenya Shilling and USD accounts which offer customers high interest rates to power their savings goals. The Platinum Saver Kenya Shilling account offers 11% interest per annum for savings of Ksh 100,000 and above, while the USD account offers 4% interest per annum for savings of $1,000 and above. We also launched the ‘Jijenge Biashara’ SME account which offers two twice the savings amount for loans. The savings also generate an interest which enables the SME entrepreneurs to build a reserve for investments and business expansion.
Another highlight in terms of recognition and awards is from the Marketing Society of Kenya (MSK) which awarded us the ‘Winner, Best Product Re-launch of The Year’ award 2024, for our Platinum Saver account. This recognition affirms our commitment to offering customer centric products that drive a savings culture to enable our customers actualize their goals. We have also received recognition from Global brand awards and Global Financial Market Review for initiatives by our customer experience, women markets and corporate banking units.
As this year unfolds, we are poised to enhance our suite of innovative solutions tailored to your evolving needs. Join us as we reflect on the accomplishments of this quarter and envision an even brighter year ahead. Together, we are charting a course toward shared prosperity.
Thank you for being part of our journey. We look forward to driving more value for you in 2025! Happy reading
CEO’S MESSAGE
A Heartfelt Thank You
As we start the year 2025, I want to take a moment to express my heartfelt gratitude for your trust and partnership with SBM Bank Kenya. Your confidence in us has been the foundation of our success, and we are truly honored to serve as your financial partner on this journey.
The last year has been a remarkable one for SBM Bank. Together, we’ve celebrated key milestones that have not only strengthened our financial position but also reaffirmed our commitment to innovation and customer-centric solutions. From enhancing our digital platforms to expanding cross-border trade financing options and delivering seamless payment solutions, every step we have taken has been guided by our steadfast mission to meet your unique needs.
Our financial strength remains robust, and it is this stability that allows us to continuously invest in products and services that create value for you. We recognize that the financial landscape is constantly evolving, and we are dedicated to staying ahead by offering tailored solutions that enable growth, convenience and financial empowerment.
For this year, SBM Bank is focused on taking our offerings to the next level. We are prioritizing innovation to provide you with cutting-edge tools that empower both your business and personal financial aspirations. Our commitment is to remain agile and responsive to your evolving needs while maintaining the quality, security, and reliability that you have come to expect from us.
For our corporate and SME customers, our cross-border trade solutions will open up new frontiers, connecting your businesses to international markets with ease, efficiency and unparalleled expertise. For individuals, our advanced digital platforms will continue to offer convenience at your fingertips, ensuring that your banking experience is seamless and empowering.
Most importantly, we will continue to put our customers at the heart of everything we do. Your feedback and insights directly guide our focus and investments. By truly listening and responding to your needs, we can deliver the solutions and experiences you value most. We believe that success is a shared endeavor and your insights will remain central as we navigate the future together, forging a path of mutual growth and prosperity.
Thank you for your loyalty and for choosing SBM Bank as your trusted partner. We are committed to earning your business every day by delivering an exceptional banking experience built on trust, transparency and care. With your continued partnership, I am confident our brightest days lie ahead. Together, we will continue building a legacy of excellence and creating opportunities that inspire growth and success.
With gratitude and best wishes,
Bhartesh Shah, CEO, SBM Bank Kenya
QUARTER 4 HIGHLIGHTS
SBM Bank Partners with CBI to Empower Women Entrepreneurs in Global Trade
SBM Bank has partnered with the Centre for the Promotion of Imports (CBI), funded by the Dutch Ministry of Foreign Affairs, to launch an initiative empowering Kenyan women entrepreneurs in export value chains. The pilot phase targets 15 women-led businesses, focusing on providing access to affordable financing, financial management training, and export readiness coaching. By addressing challenges such as limited access to export financing, the program aims to support women-owned SMEs in entering international markets. CBI’s market intelligence and global networks will further create opportunities for Kenyan entrepreneurs.
This collaboration reflects SBM Bank’s commitment to the UN Sustainable Development Goals (SDGs), particularly gender equality and economic growth, and reinforces its role as a signatory of the UN Women’s Empowerment Principles. This partnership highlights the potential to drive sustainable economic development by unlocking opportunities for women in global trade
Sponsoring the Muthaiga Golf Club Lady Captain’s Tournament
In November, SBM Bank Kenya sponsored the Muthaiga Golf Club Lady Captain’s Tournament, a prestigious event celebrating sportsmanship and community spirit. SBM Bank proudly sponsored the 2024 Muthaiga Golf Club Lady Captain’s Prize Tournament with a Ksh 1.5 million contribution (Ksh 1 million in cash and Ksh 500,000 in kind). The week-long event, running from 4th to 9th November, celebrated golf and community engagement with activities such as a Caddies’ Tournament, financial literacy training, and a Seniors Tournament for players aged 60 and above. Our support of this event demonstrates our dedication to nurturing talent and fostering inclusivity.
The theme for the Lady Captain’s Tournament was Holistic Wellness and this provided an opportunity for the golfers to gather knowledge, insights and inspiration to embrace healthy lifestyles while teeing off on the course. We presented gifts to winners from each day’s tournaments as a way to encourage and appreciate their performance on the course. A key highlight during this engagement was our feature on ‘The Situation Room’ show on Spice FM where our Director, Consumer Banking was interviewed alongside Regina Gachora, the outgoing Lady Captain at Muthaiga Golf Club. She expounded on the bank’s solutions aimed at fostering a savings culture to help customers achieve their financial goals in line with the theme of the show, ‘Championing Women’s Golf: Promoting Financial Literacy On and Off the Course”
The tournament provided a platform to connect with customers, partners, and community stakeholders, reinforcing our commitment to meaningful engagement beyond banking.
SBM BANK KENYA SCOOPS AWARDS
Best Product Re-launch Of The Year-Marketing Society of Kenya (MSK) Award
SBM Bank Kenya was honored with the Best Product Relaunch of the Year award by the Marketing Society of Kenya. This prestigious recognition was a result of the bank’s successful relaunch of its Platinum Saver Account, which has been widely acclaimed for addressing customer needs and promoting a savings culture.
The Platinum Saver Account is designed to cater to individuals with short to medium-term savings goals. It offers an impressive 11% annual interest rate on balances above KES 100,000, and a 4% interest per annum for savings of $1,000 and above, making it one of the most competitive savings accounts in the market. This makes it an attractive option for young professionals saving for education, business owners planning for expansion, and individuals building an emergency fund. The account also allows for one
withdrawal per quarter providing flexibility for account holders.
The Platinum Saver Account relaunch was strategically timed to meet Kenya’s growing demand for better savings solutions. By offering competitive interest rates and flexible withdrawal terms, SBM Bank Kenya has positioned the Platinum Saver Account as a strong solution for fostering a savings culture among its customers.
The Marketing Society of Kenya recognized SBM Bank’s efforts in effectively communicating the benefits of the Platinum Saver Account and its alignment with customer needs. The relaunch campaign highlighted the account’s features through various marketing channels, ensuring that potential customers were well-informed about the benefits of opening a Platinum Saver Account.
Fastest Growing Corporate Bank
Since establishing its presence in Kenya, SBM Bank has quickly positioned itself as a key player in corporate banking, delivering a diverse range of customized solutions designed to fuel business success across various industries. This remarkable growth has earned SBM Bank Kenya the esteemed title of ‘Fastest Growing Corporate Bank’ for 2024, awarded by the Global Brands Awards. This accolade reflects our unwavering commitment to providing exceptional services that enable our clients to excel in today’s dynamic and competitive market.
Our corporate banking portfolio encompasses structured trade finance, wealth management, custodial services, and working capital solutions. These offerings are at the core of our mission, empowering businesses to achieve sustainable growth while playing a vital role in Kenya’s economic advancement.
With a strategic presence along the Indian Ocean rim in Mauritius, Kenya, India, and Madagascar, SBM Bank offers unparalleled advantages for cross-border trade. Our partnership with SBM India allows us to extend favorable terms and seamless solutions to clients importing from India, helping businesses thrive while managing the complexities of international trade.
The recognition as the ‘Fastest Growing Corporate Bank’ reinforces our dedication to being a trusted financial partner, providing innovative and reliable banking solutions to drive a brighter, smarter tomorrow for our customers.
Best Bank for Customer Experience
SBM Bank Kenya has been honored as the ‘Best Bank for Customer Experience’ at the prestigious Global Brands Awards, highlighting our dedication to delivering outstanding banking solutions and customer satisfaction. This recognition celebrates our commitment to innovation, service efficiency, and creating meaningful interactions with our clients.
At the heart of this achievement is the Mfukoni platform, which offers seamless digital banking. Customers can access services such as account management, fund transfers, bill payments, competitive forex rates, and financial insights—all with enhanced security for worry-free transactions. Additionally, our Platinum Saver Account provides a market-leading 11% annual interest on deposits of Ksh 100,000 and above, further empowering savers.
We’ve also set industry benchmarks with an impressive Customer Satisfaction (CSAT) score of 88% and a Customer Effort Score (CES) of 93%, reflecting our focus on personalized services and ease of doing business. From streamlined processes to responsive customer support, every interaction is designed to exceed expectations.
Beyond banking, SBM Bank is committed to sustainability through initiatives such as turtle conservation, tree planting, women’s empowerment, and eco-friendly debit cards. These efforts align with our dedication to supporting the environment and the communities we serve.
This award reaffirms our customer-first philosophy and motivates us to set even higher standards.. Looking ahead, SBM Bank remains devoted to redefining customer experience through innovation, sustainability, and unwavering service excellence.
Global Financial Market Review Award-Best ESG Bank
SBM Bank Kenya, a United Nations Women Empowerment Principles (UNWEP) signatory, is dedicated to advancing gender equity through initiatives that empower women economically, socially, and professionally. This commitment has earned the bank the prestigious Best ESG Bank Award for Women Empowerment Initiatives in Banking from the Global Financial Market Awards (GFM).
To support women entrepreneurs, SBM Bank has collaborated with strategic partners to train over 15,000 MSMEs in business management and financial skills. Additionally, a partnership with
the African Guarantee Fund under the AFAWA program has enabled more women in business to access to credit by addressing the collateral barriers which have posed a barrier on credit qualification. SBM Bank’s flagship Pop-Up Market event provides women entrepreneurs a platform to showcase their products, while partnerships with international organizations, such as ITC She Trades, open doors to global markets. These initiatives have connected women entrepreneurs annually to valuable networking and trade opportunities.
In the community, SBM partners with NGOs to support marginalized women. Projects like maternal care in Kajiado and entrepreneurship training in Eastleigh have improved livelihoods and provided sustainable income sources.
SBM Bank’s unwavering commitment to women empowerment reflects its vision for a more inclusive and resilient society, positioning it as a leader in promoting gender equity.
SEAMLESS PAYMENTS, LIMITLESS POSSIBILITIES:
Why SBM Bank is Your Trusted Partner in Transactions.
In the evolving world of finance, reliable, secure, and efficient payment solutions are not just a conveniencethey are an imperative. SBM Bank Kenya stands out as a leading provider of innovative payment services tailored to meet the needs of corporates, SMEs, and individual customers. With an unwavering commitment to excellence, we ensure that every transaction is seamless, secure, and empowering, setting us apart as the bank of choice for businesses and individuals alike.
At SBM Bank, we understand that payment needs vary across different segments of our customer base. That’s why our comprehensive suite of payment solutions is designed to cater to every unique requirement, whether you’re a business managing bulk payments, an SME facilitating supplier payments, or an individual transferring money across borders.
The Mfukoni Platform: Banking in your Pocket
Our flagship Mfukoni platform offers the ultimate convenience in digital banking. Designed with an intuitive user experience in mind, Mfukoni allows you to manage all your banking needs from the palm of your hand. Whether you’re transferring funds locally, paying utility bills, or accessing real-time account balances, Mfukoni ensures you are always connected to your finances, anytime, anywhere.
For businesses, Mfukoni provides robust functionalities such as payroll management and supplier payments, making it an invaluable tool for SMEs seeking to streamline their operations. With round-the-clock availability and top-notch security features, the platform ensures that your transactions are completed without disruptions, giving you the confidence to focus on your growth.
Cards Suite: Empowering your Transactions
Our extensive card suite caters to diverse customer needs, offering debit, credit, and prepaid cards that ensure secure and efficient payments locally and
globally. Whether you’re a corporate executive managing travel expenses, an SME making bulk purchases, or an individual shopping online, our cards provide unmatched flexibility and security.
SBM Bank cards are integrated with advanced features, including chip-and-PIN technology and contactless payments, ensuring peace of mind for every transaction. Furthermore, our partnerships with global payment networks like Visa and UPI guarantee seamless acceptance wherever you go. The convenience and security of our cards empower you to make payments with confidence, opening limitless possibilities for your personal and business needs.
SBM Payment System (SPS) and Bulk Payment Services
For corporates and SMEs, managing high volumes of transactions can be complex, and time consuming. SBM Bank’s Payment System (SPS) and bulk payment services simplify this process by providing efficient solutions for disbursing salaries,
vendor payments, and other mass transactions. Our SPS is a robust platform that integrates seamlessly with your accounting systems, enabling real-time payments to multiple beneficiaries with minimal effort. With detailed transaction reporting and audit trails, SPS offers the transparency and reliability your business needs to stay ahead.
International Remittance: Connecting you to the World
In a globalized economy, cross-border transactions are integral to personal and business success. SBM Bank’s international remittance services provide fast, cost-effective, and secure solutions for sending and receiving money worldwide.
Through our partnership with trusted global networks, we ensure competitive exchange rates and swift processing times. Whether you’re a corporate entity paying international suppliers, an SME exploring new markets, or an individual supporting family abroad, SBM Bank’s international remittance services offer unparalleled convenience and reliability. With SBM Bank as your payments partner, the world is within your reach.
Our Unmatched Value for your Payment Needs
Security You Can Trust: All our payment solutions are built on robust security frameworks, incorporating multi-factor authentication and real-time fraud monitoring to safeguard your transactions.
Tailored for You: Our flexible solutions cater to the unique needs of corporates, SMEs, and individuals, ensuring that no matter your requirement, SBM Bank has you covered.
Global Reach, Local Expertise: With a strong local presence and international partnerships, we provide the best of both worlds—global capabilities with localized service excellence.
What’s in it for you?
For Corporates: Leverage our SPS platform to pay over 1,000 suppliers seamlessly and significantly reduce processing times to enhance supplier satisfaction. This provides unparalleled efficiency to run your business/organization, thus affording you the time to focus on your strategic activities to grow your organization.
For SMEs: Disburse wages to seasonal workers, ensuring uninterrupted efficiency during peak seasons depending on your sector (harvest, high peak tourist times, holidays and special occasions. This allows you the freedom to prioritize your business growth and customer engagements.
For Individuals: Through Mfukoni mobile and internet platform, customers enjoy secure, hasslefree bill payments, Platinum Saver account opening and management, quick transfers to loved ones and safe online shopping—all at their convenience, 24 hours a day, seven days a week.
The SBM Advantage
At SBM Bank Kenya, we believe in empowering our customers with solutions that transcend mere functionality. Our payment services are more than just tools—they are enablers of success, growth, and financial freedom. Whether you’re an individual managing everyday transactions, an SME scaling operations, or a corporate entity expanding internationally, SBM Bank is your trusted payments partner every step of the way. Experience seamless payments and limitless possibilities with SBM Bank.
SBM Bank cards are integrated with advanced features, including chip-andPIN technology and contactless payments, ensuring peace of mind for every transaction.
CUSTOMER TESTIMONIALS
SBM Bank is Your Reliable, Trusted Financial partner for a Smarter Tomorrow. Here’s What our customers are saying.
Loise Ndung’u
CEO, Lodajots Enterprises (IT sector)
“I have banked with SBM for ten years and they have held my hand. I like their ‘Jijenge Biashara SME account which gives you loans which are double your savings. May SBM live long and grow further.”
Scan the QR Code to watch their stories
Arthur Anoke Ikechukwu CEO, Zuri Health (Telemedicine sector)
“SBM Bank was the first bank which understood the SME business model. Their partnership has enabled the establishment of Zuri Health and I am grateful for their support.”
Zamzam Waithera CEO, Serah’s Secrets (beauty and cosmetics)
“SBM has enabled me to grow. I came from Isiolo with a dream to establish a beauty business and I have actualized this through SBM’s support, quality customer service and secure services. I like their upgraded Mfukoni app which is secure to transact on. SBM Bank is indeed part of my success story.”
Loise Njeri
CEO, Nairobi Famous Hardware (Interior design and construction industry)
“SBM Bank has enabled me to establish and grow my business. I have expanded my shop, employed more staff and importing more goods from China and Dubai. They are open and supportive when I need good forex rates for importing goods. With SBM’s support, I am growing and going far.”
Dalmus
Mbai CEO, Safer Power (Renewable energy sector)
“SBM Bank was the first bank that opened their doors to us. They helped us restructure the facility that enabled us to finance the Solar power plant at Stoni Athi resort. I commend them for their investing in green financing and supporting our continent to grow sustainably. Cheers SBM Bank for a smarter sustainable tomorrow.”
“I have been supported all through my business journey. They have great service, and their team listens and guides me when I need support. Even when I had financial challenges, I was still able to open a new shop thanks to their support. I especially acknowledge the African Guarantee Fund (AGF) facility which addressed the collateral challenge when applying for a loan. I encourage women in business to bank with SBM. I can confidently take on risks knowing that SBM Bank is by my side.”
David Ouma
CEO, Sabora Canvas (Manufacturing of tents) “SBM Bank really helped me in establishing Sabora and unleashing my passion for Canvas. They particularly came through for me during the Corona pandemic when business was down. The overdraft facility enabled me to purchase stock which I have been using to date. This has enabled me to serve my clients efficiently and ensures business’s growth and stability. With SBM Bank, I am confident of a secure future for my business.”
