Mauritius firm to take over 75pc of Chase Bank business
2 months ago, 13 Jan 13:06
Mauritius’s SBM Holdings, a financial services company, will acquire 75 per cent of the value of certain deposits of Kenya’s Chase Bank plus matched liabilities, the Kenyan central bank said on Friday. In addition to banking, SBM Holdings has an asset management and stockbroking unit. It has a presence in Madagascar and India. The Central Bank of Kenya (CBK) has been seeking a strategic investor for Chase Bank, which has been under receivership since April 2016 after failing to meet its financia ...
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