SBM Kenya Licensed To Operate as an Authorized Depository and Securities Dealer

By Sharon Chweya

The Board of the Capital Markets Authority (CMA) has approved the grant of a license to SBM Bank Kenya Limited to operate as an Authorised Depository and an Authorised Securities Dealer. Credit Bank Limited has been granted a license as an Authorized Depository.

This brings the number of Authorised Securities Dealers to three and Authorised Depositories to twenty.

An authorized securities dealer carries out the business of buying, selling, dealing, trading, underwriting or retailing of fixed income securities. According to the Capital Markets Act, an authorized securities dealer is a person authorized to deal in securities and operate in a specified market segment as may be prescribed by the Authority.

As a leading and most trusted financial institution headquartered in Mauritius, SBM Bank of Kenya is positioned to offer an unprecedented banking experience in Kenya.

The bank’s high solution orientation, flexibility in structuring, advanced technological platform, international best practices and footprint across Mauritius, India, Madagascar, and Kenya make it your ideal partner for business growth and success

The Core values at SBM Bank of Kenya include putting their customers first in everything they do, committing to world-class standards in every area of their business, treating their employees with integrity and respect – and expecting the very highest performance in return, adhering to the highest ethical standards and being prudent in taking risks with their shareholders and depositor funds.

SBM Bank of Kenya’s mission is threefold to build lasting relationships with their customers by offering distinctive products and exceptional service, to be the employer of choice for the top talents in the markets they serve and to prudently manage risk and costs.

In so doing, SBM’s intent is to achieve strong and sustained returns for their shareholders, meet the relevant needs of their stakeholders and support the development of the community at large.