By BRIAN NGUGIMore by this AuthorMauritian lender SBM Holdings has formally taken over troubled Chase Bank following the conclusion of a sale deal. “This concludes the discussions between SBM, KDIC and CBK on the CBLR transaction that was announced on January 5, 2018,” said CBK and KDIC in a joint statement. 25 per cent or about Sh19 billion will therefore remain as part of other “assets and liabilities” with Chase Bank. Others are Co-operative Bank of Kenya #ticker:COOP and Rafiki Microfinance Bank, a subsidiary of Chase Bank. Chase Bank was placed under receivership on April 7, 2016 following a run on deposits after reports of liquidity problems spread online.

Source: Daily Nation April 18, 2018 08:26 UTC