@StandardMedia

Mauritius' SBM Holdings to take 75 per cent of Chase deposits, liabilities

4 days ago, 23:15

By: Reuters

Mauritius’ SBM Holdings will acquire 75 per cent of the value of certain deposits of Chase Bank plus matched liabilities, the Central Bank of Kenya (CBK) said on Friday. The CBK has been seeking a strategic investor for Chase, which has been under receivership since April 2016 after failing to meet its financial obligations. The Central Bank said last week that SBM Holdings had made a binding offer for some of the bank’s assets and liabilities. “We are in the home stretch,” CBK Governor Pat ...
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Category: business news

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@StandardMedia

Mauritius' SBM Holdings to take 75 per cent of Chase deposits, liabilities

4 days ago, 23:15

By: Reuters
Mauritius’ SBM Holdings will acquire 75 per cent of the value of certain deposits of Chase Bank plus matched liabilities, the Central Bank of Kenya (CBK) said on Friday. The CBK has been seeking a strategic investor for Chase, which has been under receivership since April 2016 after failing to meet its financial obligations. The Central Bank said last week that SBM Holdings had made a binding offer for some of the bank’s assets and liabilities. “We are in the home stretch,” CBK Governor Pat ...
Read More

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Experts warn of Africa’s new debt crisis

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Processor cuts raw milk and retail prices on over-supply

Farmers are the biggest losers in the wake of a tumble in shelf prices following increased production in the last... ...

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