SBM Holdings Ltd.


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14 articles for SBM Holdings Ltd.

SBM Holdings: Lower forecasts on asset clean-up, Covid-19 provisioning

We see SBMH delivering MUR447mn net profit this year; the key delta is higher risk costs due to Mauritius’ vulnerabilities to the global slowdown. Significant changes in the Board’s composition earlier this year (which saw more than half the members ...
Tellimer Research Rahul
Rahul Shah @ Tellimer Research 16 July 2020

SBM Holdings: Management update: momentum is building

Management comments support our positive outlook. Loan growth likely to accelerate. Kenya is seeing loan market share gains this year and this is likely to continue into 2020, via both capex and working capital facilities. Significant changes to pers...
Tellimer Research Rahul
Rahul Shah @ Tellimer Research 27 November 2019

SBM Holdings: Q3 19: higher operating costs offset strong core revenues

Effective tax rate (23%) was lower than expected (27%). Operating costs (+32% yoy) were higher than expected, largely due to a special levy which is not included in the tax line, and a MUR204mn India cyber-attack provision, over 80% of which will be ...
Tellimer Research Rahul
Rahul Shah @ Tellimer Research 13 November 2019

SBM Holdings: Asset clean-up drives positive ROTE outlook

Domestic leader with a growing international franchise. Discounted valuation, rapid EPS growth to attract investor interest. SBMH trades at 0.6x 2019f tangible PB, 7.4x 2019f PE and 6.2x 2020f PE. We expect delivery of sustained improvements in both ...
Tellimer Research Rahul
Rahul Shah @ Tellimer Research 16 August 2019

The sale is on: Buy NGA and PAK banks

Tellimer Research
Faith Mwangi @ Tellimer Research 25 September 2018

SBM Holdings: STATE BANK OF MAURITIUS Q1 18 results: Scaling up

Tellimer Research Rahul
Rahul Shah @ Tellimer Research 15 May 2018


S.B.M. Holdings Limited is a financial holding company incorporated under the laws of Jersey.

Associated topics

Banks Mauritius Financials SBM Holdings Ltd. Africa Kenya Sub Sahara Africa India Rahul Shah Mauritian SBMH Former Exotix Analyst MCB Group (Mauritius) Equity