Review pending. Every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text; matched to OCR text and compared cell by cell with the page image; read from the page image) (17 October 2026). Independent review has not yet been carried out, and these pages are not indexed.AI-assisted source check done; independent review pending; not indexed. About the review
SBM Holdings
On this page
Company details
- Legal name
- SBM Holdings Ltd
- Listing
- No ticker printed on the Stock Exchange of Mauritius, active (observed 2026-10-08)
- Sector
- Not classified (our classification from the stated principal activity)
- Financial year ends
- 31 December
Overview
Year ended 31 December 2025 · audited financial statements, signed / final · source
-
Net interest income/(expense)
MUR 12.2 billion
12,192,809 MUR thousands · p146
+9.1% vs 2024
Printed as 'Net interest income/(expense)' in the Group statement of profit or loss (p146).
-
Total operating income
MUR 19.0 billion
19,029,484 MUR thousands · p146
+14.4% vs 2024
Printed as 'Total operating income' (p146).
-
Profit for the year attributable to owners of the Company
MUR 4.21 billion
4,213,510 MUR thousands · p146
−2.9% vs 2024
Printed as 'Profit for the year attributable to owners of the Company' (p146); the group has no non-controlling interests line.
-
Total assets
MUR 425 billion
425,328,093 MUR thousands · p145
−1.9% vs 2024
Statement of financial position (p145).
-
Deposits from non-bank customers
MUR 347 billion
347,444,343 MUR thousands · p145
−3.4% vs 2024
Printed as 'Deposits from non-bank customers' (p145).
-
Total equity attributable to owners of the Company
MUR 40.5 billion
40,452,481 MUR thousands · p145
+10.4% vs 2024
Printed as 'Total equity attributable to owners of the Company' (p145); no separate total-equity line is printed.
Large amounts are rounded for reading (MUR million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.
Financial statements
Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in MUR thousands unless the row says otherwise; brackets are negative.
† from a supplementary filing for the same year · ‡ signed audited statements preferred over a disputed figure · “–” is a printed dash, explained below the table
Column sources
- FY2025 — audited financial statements, signed / final; reported for the year · source
- FY2024 — audited financial statements, signed / final; comparative in the FY2025 filing · source
Income statement
| Line (as printed) | FY2025Audited financial statementsreported for the year | FY2024Audited financial statementscomparative in FY2025 filing |
|---|---|---|
| Interest income using the effective interest method | 24,459,039 | 22,709,870 |
| Other interest income | 1,272,175 | 633,002 |
| Interest expense using the effective interest method | (12,341,609) | (11,522,394) |
| Other interest expense1 | (1,196,796) | (646,415) |
| Net interest income/(expense) | 12,192,809 | 11,174,063 |
| Fee and commission income | 2,836,873 | 2,481,656 |
| Fee and commission expense | (129,431) | (124,710) |
| Net fee and commission income | 2,707,442 | 2,356,946 |
| Net trading income | 2,478,924 | 2,577,460 |
| Net gains/(losses) from financial assets measured at FVTPL | 835,527 | (2,837) |
| Net losses on derecognition of financial assets measured at amortised cost2 | –3 | (32,383) |
| Net gains/(losses) on derecognition of financial assets measured at FVTOCI4 | 381,616 | 108,567 |
| Other operating income | 433,166 | 452,602 |
| Non-interest income | 6,836,675 | 5,460,355 |
| Total operating income | 19,029,484 | 16,634,418 |
| Personnel expenses | (4,803,982) | (4,899,768) |
| Depreciation of property and equipment | (506,906) | (408,417) |
| Depreciation of right of use assets5 | (222,702) | (229,078) |
| Amortisation of intangible assets | (794,462) | (692,546) |
| Other expenses | (4,037,810) | (4,389,219) |
| Impairment of investment in subsidiary6 | –7 | –7 |
| Non-interest expense8 | (10,365,862) | (10,619,028) |
| Profit before credit loss expense | 8,663,622 | 6,015,390 |
| Credit loss movement on financial assets and memorandum items | (3,534,141) | (431,289) |
| Profit before income tax | 5,129,481 | 5,584,101 |
| Tax expense | (915,971) | (1,245,431) |
| Profit for the year attributable to owners of the Company | 4,213,510 | 4,338,670 |
| Items that will not be reclassified to profit or loss (unlabelled subtotal)9 | 31,157 | 484,600 |
| Items that may be reclassified subsequently to profit or loss (unlabelled subtotal)10 | 862,109 | 1,163,215 |
| Total other comprehensive income/(loss) attributable to owners of the Company | 893,266 | 1,647,815 |
| Total comprehensive income for the year attributable to owners of the Company | 5,106,776 | 5,986,485 |
- Printed “-”, read as nil: subtotal_arithmetic: is.non_interest_income.
- Printed “-”, read as nil: subtotal_arithmetic: is.native.co_e7d6xxec9dpk.non_interest_expense.
Notes and alternative reported figures (8)
- “Other interest expense” is an issuer-specific line, not mapped to a shared definition: Note 26; within net interest income.
- “Net losses on derecognition of financial assets measured at amortised cost” is an issuer-specific line, not mapped to a shared definition: Note 29(b).
- “Net gains/(losses) on derecognition of financial assets measured at FVTOCI” is an issuer-specific line, not mapped to a shared definition: Note 29(c).
- “Depreciation of right of use assets” is an issuer-specific line, not mapped to a shared definition: Note 11(b).
- “Impairment of investment in subsidiary” is an issuer-specific line, not mapped to a shared definition: Note 10(b); nil in the Group columns.
- “Non-interest expense” is an issuer-specific line, not mapped to a shared definition: Printed subtotal of operating expenses.
- “Items that will not be reclassified to profit or loss (unlabelled subtotal)” is an issuer-specific line, not mapped to a shared definition: Unlabelled subtotal of the OCI items that will not be reclassified.
- “Items that may be reclassified subsequently to profit or loss (unlabelled subtotal)” is an issuer-specific line, not mapped to a shared definition: Unlabelled subtotal of the OCI items that may be reclassified.
Balance sheet
| Line (as printed) | FY2025Audited financial statementsreported for the year | FY2024Audited financial statementscomparative in FY2025 filing |
|---|---|---|
| Cash and cash equivalents | 52,608,903 | 62,287,617 |
| Loans to and placements with banks | 14,038,281 | 7,595,289 |
| Derivative financial instruments | 1,812,406 | 1,464,946 |
| Loans and advances to non-bank customers | 185,297,918 | 172,687,378 |
| Investment securities | 156,831,695 | 176,104,391 |
| Investment in subsidiaries1 | –2 | –2 |
| Property and equipment | 4,822,843 | 5,270,896 |
| Right of use assets | 856,827 | 781,578 |
| Intangible assets | 1,020,843 | 1,535,893 |
| Deferred tax assets | 2,400,187 | 1,519,647 |
| Other assets | 5,638,190 | 4,394,750 |
| Total assets | 425,328,093 | 433,642,385 |
| Deposits from banks | 5,499,793 | 3,963,451 |
| Deposits from non-bank customers | 347,444,343 | 359,496,028 |
| Other borrowed funds | 9,166,253 | 10,523,557 |
| Derivative financial instruments | 1,455,794 | 1,429,727 |
| Lease liabilities3 | 956,031 | 856,681 |
| Current tax liabilities | 1,191,263 | 1,018,819 |
| Pension liabilities4 | 545,786 | 758,138 |
| Other liabilities | 7,299,763 | 8,981,235 |
| Subordinated debts5 | 11,316,586 | 9,978,148 |
| Total liabilities | 384,875,612 | 397,005,784 |
| Stated capital | 32,500,204 | 32,500,204 |
| Retained earnings | 15,068,614 | 11,543,044 |
| Other reserves | (2,241,306) | (2,531,616) |
| Equity before treasury shares (unlabelled subtotal)6 | 45,327,512 | 41,511,632 |
| Treasury shares7 | (4,875,031) | (4,875,031) |
| Total equity attributable to owners of the Company | 40,452,481 | 36,636,601 |
| Total equity and liabilities | 425,328,093 | 433,642,385 |
- Printed “-”, read as nil: subtotal_arithmetic: bs.total_assets.
Notes and alternative reported figures (6)
- “Investment in subsidiaries” is an issuer-specific line, not mapped to a shared definition: Note 10(b); nil in the Group columns.
- “Lease liabilities” is an issuer-specific line, not mapped to a shared definition: Note 11(b)(ii); current/non-current split not printed.
- “Pension liabilities” is an issuer-specific line, not mapped to a shared definition: Note 14: defined benefit pension liabilities.
- “Subordinated debts” is an issuer-specific line, not mapped to a shared definition: Note 20.
- “Equity before treasury shares (unlabelled subtotal)” is an issuer-specific line, not mapped to a shared definition: Unlabelled subtotal of stated capital, retained earnings and other reserves, before treasury shares.
- “Treasury shares” is an issuer-specific line, not mapped to a shared definition: Note 21.
Cash flow
| Line (as printed) | FY2025Audited financial statementsreported for the year | FY2024Audited financial statementscomparative in FY2025 filing |
|---|---|---|
| Cash (used in)/ generated from operations | (18,980,660) | 18,218,043 |
| Interest received | 26,003,622 | 22,729,256 |
| Interest paid1 | (13,883,385) | (11,823,636) |
| Income tax paid | (1,673,969) | (770,319) |
| Net cash generated from/(used in) operating activities | (8,534,392) | 28,353,344 |
| Acquisition of property and equipment | (206,623) | (724,427) |
| Acquisition of intangible assets | (319,446) | (406,927) |
| Procceds on disposal of property and equipment | 16,669 | 23,260 |
| Dividend received2 | 287,778 | 305,568 |
| Redemption of capital contribution3 | –4 | –4 |
| Contribution during the year5 | –4 | –4 |
| Net cash (used in)/generated from investing activities | (221,622) | (802,526) |
| Proceeds from other borrowed funds | 9,630,967 | 4,612,409 |
| Repayment of other borrowed funds | (10,317,261) | (7,740,277) |
| Repayment of subordinated debts6 | (3,440,358) | (1,500,000) |
| Subordinated debts issued7 | 5,000,000 | –8 |
| Dividend paid on ordinary shares | (1,290,896) | (1,032,717) |
| Payment of principal portion of lease liabilities | (269,637) | (293,092) |
| Net cash flow (used in)/generated from financing activities | (687,185) | (5,953,677) |
| Net change in cash and cash equivalents | (9,443,199) | 21,597,141 |
| Effect of foreign exchange rate changes | (252,338) | (33,845) |
| Expected credit loss allowance on cash and cash equivalents9 | 16,823 | (22,319) |
| Cash and cash equivalents at start of year | 62,287,617 | 40,746,640 |
| Cash and cash equivalents at end of year | 52,608,903 | 62,287,617 |
- Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_investing.
- Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_financing.
Notes and alternative reported figures (7)
- “Interest paid” is an issuer-specific line, not mapped to a shared definition: Operating activities: interest paid (deposits and borrowings).
- “Dividend received” is an issuer-specific line, not mapped to a shared definition: Investing activities, note 30.
- “Redemption of capital contribution” is an issuer-specific line, not mapped to a shared definition: Investing activities, note 10(b); nil for the Group.
- “Contribution during the year” is an issuer-specific line, not mapped to a shared definition: Investing activities, note 10(b); nil for the Group.
- “Repayment of subordinated debts” is an issuer-specific line, not mapped to a shared definition: Financing activities, note 20.
- “Subordinated debts issued” is an issuer-specific line, not mapped to a shared definition: Financing activities, note 20.
- “Expected credit loss allowance on cash and cash equivalents” is an issuer-specific line, not mapped to a shared definition: Reconciling item between the net change and closing cash.
Segments
Segment data not yet collected for this company in the pilot.
Dividends
Proposed or recommended, declared and paid are different events and are kept apart. A statement that no dividend was proposed does not mean none was paid.
| Year ended | Event | Wording as printed | Amount | Unit | Source |
|---|---|---|---|---|---|
| 31 Dec 2025 | Dividends paid (cash flow statement) | Dividend paid on ordinary shares |
(1,290,896) | MUR thousands | Audited financial statements, p150 |
| 31 Dec 2024 | Dividends paid (cash flow statement) | Dividend paid on ordinary shares |
(1,032,717) | MUR thousands | Audited financial statements, p150 |
Sources
Each filing used on this page, newest period first. Dates are the document's own; the date we retrieved a file is shown separately and is never a publication date.
-
SBM Holdings Ltd Financial Statements for the year ended 31 December 2025 (Part D: Audited Financial Statement)
Year ended 31 December 2025 · Audited financial statements · signed / final
Audit: PricewaterhouseCoopers (Mauritius), unmodified opinion · signed
Auditor's sign-off: John Li How Cheong, licensed by FRC, for PricewaterhouseCoopers
Final status: Independent auditor's report to the shareholders of SBM Holdings Ltd (opinion PDF p137) e-signed (DocuSign) for PricewaterhouseCoopers and by John Li How Cheong, licensed by FRC, dated 30 March 2026 (PDF p144, page image). Statements of financial position approved by the Board of Directors and authorised for issue on 30 March 2026, signed (handwritten) by the chairman and the chairman of the audit committee (PDF p145, scanned page image).
- Document date
- 30 Mar 2026
- Auditor's report
- 30 Mar 2026
- Board approval
- 30 Mar 2026
- Retrieved by us
- 8 Oct 2026 (not a publication date)
- Used for
- statement columns FY2025, FY2024
- Basis
- consolidated statements · MUR thousands (printed “MUR' 000”)
- Closing cash in the cash-flow statement is after an expected credit loss allowance movement on cash and cash equivalents (16,823; 2024: (22,319)) and exchange differences (p150).
- The statement of financial position (p145) prints no total-equity line; with no non-controlling interest, 'Total equity attributable to owners of the Company' (40,452,481; 2024: 36,636,601) is the last equity total before 'Total equity and liabilities'. It is unclassified (no current/non-current subtotals).
- The Group's 31 December 2024 and 01 January 2024 statement-of-financial-position columns and the 2024 cash-flow column are headed '(Restated)' (pp145, 150). Note 5 (PDF pp169-172): minimum cash balances with central banks (31 December 2024: MUR 19,509.7 million; 01 January 2024: MUR 16,918.9 million) reclassified from mandatory balances with central banks to cash and cash equivalents; interest received and paid presented separately and unrealised exchange differences removed from the cash-flow lines. Comparatives are marked restated.
- Earnings per share is printed in cents, basic and diluted on one line (163.2; 2024: 168.0, p146); stored in rupees (÷100) with the printed figure and unit kept. The OCI line items are not transcribed individually; their two unlabelled subtotals are (p147).
Technical details
- File
- 256 pages, with a text layer
- SHA-256
27d054cc0b8520b10d7151cd7b2c64ccbdfbed9d2d9d048735d5a1e4d162d14a- Entity as printed
- SBM Holdings Ltd (the "Company") and its subsidiaries (together the "Group")
- Issuer copy
- retrieved 2026-10-08T19:13:23Z
Data notes
- Deposits from non-bank customers — OCR read '359.496.028'; the page image shows '359,496,028'. OCR misreading of the figure (a full stop for a comma); corrected from the page render. (SBM Holdings Ltd Financial Statements for the year ended 31 December 2025 (Part D: Audited Financial Statement), p145)
- Lease liabilities — OCR read '856.681'; the page image shows '856,681'. OCR misreading of the figure (a full stop for a comma); corrected from the page render. (SBM Holdings Ltd Financial Statements for the year ended 31 December 2025 (Part D: Audited Financial Statement), p145)
- Pension liabilities — OCR read '758.138'; the page image shows '758,138'. OCR misreading of the figure (a full stop for a comma); corrected from the page render. (SBM Holdings Ltd Financial Statements for the year ended 31 December 2025 (Part D: Audited Financial Statement), p145)
- Subordinated debts — OCR read '9.978.148'; the page image shows '9,978,148'. OCR misreading of the figure (a full stop for a comma); corrected from the page render. (SBM Holdings Ltd Financial Statements for the year ended 31 December 2025 (Part D: Audited Financial Statement), p145)
Review status: every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text; matched to OCR text and compared cell by cell with the page image; read from the page image) (17 October 2026). Independent review is pending for every figure; automated checks and the AI-assisted verification are not independent review.
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