After acquiring Fidelity Bank last year and throwing a non-binding offer for Chase Bank this month, Mauritius’ SBM Holdings is now said to be eyeing the troubled Imperial Bank. An SBM Kenya spokesperson told the Star last week he was not aware of the intended acquisition. With a combination of Fidelity Bank (now SBM Kenya), Chase Bank and Imperial Bank, observers say this will in no doubt place SBM as among the largest lenders in the country. For instance, Kenya Commercial Bank Group has an asset base of Sh630 billion as at June 30, 2017 while Equity Bank commands an asset base of over Sh505 billion. The other big lender, Barclays, has an asset base of Sh268 billion with Diamond Trust Bank commanding a Sh343 billion asset book.

Source: The Star October 20, 2017 20:37 UTC