The Central Bank of Kenya has not restricted shortlisted investors on the volume of majority stake they should bid for in the troubled Chase Bank, a source at the regulator said yesterday. Twelve institutions have shown interest in the medium-sized lender following the March 30 Expression of Interest call which closed on April 21. The regulator said three Kenyan and four international banks are among those which have shown interest in owning a stake in Chase Bank. KCB Group chief executive Joshua Oigara last August ruled out any bid for Chase Bank, saying this will raise conflict of interest questions. Last month the Rand Merchant Bank of South Africa and Morocco’s leading lender, Attijariwafa Bank, were rumoured to be among the international lenders in the race for an equity stake in Chase.

Source: The Star May 03, 2017 21:33 UTC