“We continue to innovate our banking solutions for the retail, corporate and SME sectors to ensure relevance and responsiveness in our banking solutions,” says Mr Shah
By Amos Wachira
With a career spanning multiple continents, Bartesh Shah brings a wealth of international experience to SBM Bank Kenya. His ability to blend global best practices with local insights has been a driving force behind the bank’s success. Shah’s leadership style, characterized by collaboration and innovation, has inspired his team to push boundaries and deliver exceptional results.
Against such a background, its easy to see how he’s steadily transforming the bank into the preferred financial partner for retail customers, Small and Medium Enterprises (SMEs)as well as institutional banking clients.
Looking at his unwavering support for women entrepreneurs, it’s easy to see that Mr Shah holds matters of gender equality in high esteem. There’s a good reason for that; SBM Bank is a UN Women Empowerment (UNWEP) Signatory.
.”Our capacity-building programs provide training, networking opportunities, and access to local and international markets. We have set aside 10% of our procurement opportunities for women-led businesses, directly benefiting over 250 entrepreneurs, with 40 securing contracts worth over $741,000,” says Mr. Shah.
SBM Bank’s flagship Pop-Up Market initiative, in partnership with key stakeholders, provides women entrepreneurs with increased market visibility and opportunities for business growth.
The bank intends to collaborate with institutions such as the African Guarantee Fund under the AFAWA program to improve credit access for women in business.
The above initiatives have earned the bank awards, including the Best ESG Bank Award for Women Empowerment Initiatives in Banking from the Global Financial Market Awards (GFM) and the ‘Leader in Rewarding Banking Programs’ award by KENCTAD in recognition of the bank’s commitment to developing responsive financial solutions for women.
Mr Shah acknowledges the important role the youth and women play in growing any economy, the reason he dedicates significant resources to innovating around products and services tailored for this important demographic.
He says the bank will be launching a vibrant youth proposition which will encompass financial literacy and mentorship to enable beneficiaries realize their financial potential.”We have already engaged artists to beautify some of our branches with their creative artwork,” says the chief executive.
Strategic partnerships
In mid-2024, SBM Bank Kenya partnered with DHL in a program titled ‘Power Up Your Potential’ to empower over 400 SMEs. This collaboration aimed to provide SMEs with insights and training in exports and e-commerce, enhancing their market reach and operational capabilities. The initiative addressed challenges faced by SMEs in accessing international markets and adapting to e-commerce trends. Mr Shah emphasized the bank’s commitment to supporting the growth and success of SMEs, which are vital to Kenya’s economy.
A seasoned banker, Mr. Shah knows that a company is as good as its employees, the reason he is keen on supporting the physical and mental wellbeing of the bank’s customers and employees.
To this end, SBM Bank Kenya entered into an exclusive partnership with W Exclusive Fitness and Wellness, a luxury gym in Nairobi. This collaboration offers Elite Visa Infinite cardholders an 11% discount on annual memberships, promoting a holistic lifestyle among the bank’s stakeholders. The initiative reflects SBM Bank’s commitment to nurturing a culture of wellness beyond the professional sphere.
Known for his strategic vision and passion for innovation, Shah has held leadership roles in several prominent organizations, driving growth and transformation in the banking sector. With his wealth of experience, he fully understands how financial inclusion can help uplift households and, by extension, economies.
Some of the common points that the bank is addressing for its youthful customers include lack of access to affordable credit, lack of financial literacy, and limited networking opportunities. Mr. Shah and his team’s answer is to design products and services that will offer accessible financing options, training on financial management, and create ecosystems where entrepreneurs can connect, learn, and grow. “Additionally, we continue to leverage technology to simplify processes and reduce the barriers to accessing financial services.”
Looking at Mr. Shah lay down his strategy for the bank. It’s not hard to see that the customer is at the center of his masterplan. At SBM Bank, we pride ourselves on our customer-centric approach. “Our customers stay with us because of our personalized service, innovative solutions, and commitment to understanding their needs.”
Recognizing the growing reliance on smartphones in Kenya, Shah spearheaded the development of a user-friendly mobile banking app, enabling customers to access banking services anytime, anywhere.
When customers feel valued, they tend to stick with a brand. As SBM Bank Kenya continues to focus on delivering value, fostering trust and building long-term relationships with its clients, its efforts have not gone unnoticed.
The bank has recently garnered key awards for customer experience excellence, including :’ Best Bank for Customer Experience’ at the Global Brands Awards, the Excellence in Customer Experience Enhancement Award at the Finnovex 2023 and 2024 summits, and the Digibank 2023 Excellence in Customer Experience Award.
Since its launch in 2017, SBM Bank has had its fair share of milestones in the Kenyan market. The bank has achieved remarkable growth by expanding its product offerings, improving financial accessibility, and driving economic development. Mr. Shah and his team have built strong banking propositions in key sectors such as manufacturing, agribusiness, trade finance, real estate, institutional banking, and professional services. Additionally, the bank has developed specialized banking solutions for NGOs, diplomatic missions, county governments, and salaried individuals through workplace schemes.
Leveraging its international presence in Mauritius, India, and Madagascar, SBM bank facilitates cross-border trade through structured trade finance solutions such as Letters of Credit (LC) Discounting and Non-Residential India (NRI) transfers.
The bank continues to pride itself on corporate and institutional banking, with an agile team that continues to strengthen partnerships, ensuring that businesses have access to seamless financial solutions tailored to their needs.
“We continue to innovate our banking solutions for the retail, corporate and SME sectors to ensure relevance and responsiveness in our banking solutions,” says Mr Shah.
Any company that needs to move from good to great has to innovate and create products and services that align to the changing needs of customers. On this front, SBM bank keeps on rejigging its product offering to meet the needs of its customer base. This explains why the bank recently introduced a new product dubbed the “Platinum Saver account”, which offers a 10% interest per annum for savings of Kes 100,000 and above and 4% interest per annum for savings of USD 1,000 and above.
“We have also introduced the ‘Jijenge Biashara’ account for SMEs which enables them to access twice their savings in loans as their savings also generate interest. “This has empowered our customers to save for the short and long term, which in turn accelerates their financial growth,” says Mr Shah.
Looking ahead
As SBM Bank Kenya continues to evolve under Bartesh Shah’s leadership, the focus remains on harnessing technology to create a more inclusive and efficient banking ecosystem.
The bank continues to innovate and collaborate, aiming to enhance customer experiences and contribute to the economic development of Kenya.
With ambitious plans for expansion and innovation, Shah and his team are poised to shape the future of banking in East Africa.
Mr Bartesh Shah at a glance
Joined SBM Bank in May 2024
Holds a Bachelor of Science in Banking and Finance from Loughborough University
He holds an MBA from the University of Warwick’s Warwick Business School
Has held various positions in local and international banks
