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 Patrick Njoroge told a news conference about the offer. Depositors at Chase will…

Source – Standard Media