SBM Bank terms claims it is leaving Kenyan market malicious

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The SBM Holdings Ltd (“SBMH”), as the ultimate holding company of SBM Bank
(Kenya) Limited (“SBMBK”), wishes to reassure its stakeholders in Kenya that it
remains committed to the local banking market through its long-term
investments in SBMBK. The Board of SBMH reiterates that all legal and banking
procedures have been duly respected during the acquisition process of a
Kenyan bank in 2017. As the second largest banking and financial services
Group listed in Mauritius, the SBMH remains disciplined and close with its
regulatory bodies, clients and other stakeholders. As such, the SBMBK reserves
its right to explore all legal avenues against any false, unfounded, and
malicious allegations concerning the sale or transfer of any of its Kenyan
banking operations.

By Order of the Board
07 October 2022
This Communiqué is issued pursuant to Listing Rule 11.3 of the Stock Exchange of
The Board of Directors of SBM Holdings Ltd accepts full responsibility for the accuracy
of the information contained in this Communiqué.

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