| Published Tue, April 24th 2018 at 00:00, Updated April 23rd 2018 at 22:34 GMT +3SBM Bank (Kenya). ALSO READ: SBM concludes Chase Bank acquisitionLast week, SBM sealed a deal that will see it acquire part of Chase Bank Kenya Ltd, which is in receivershipThe chairman told Bloomberg that the lender may make further acquisitions in Kenya, where it bought Fidelity Commercial Bank Ltd in May last year. SBM Holdings has the capability and resources in this regard,” he said. “This landmark transaction will enable us to grow inorganically, taking SBM Kenya from 31st to 11th place as a strong Top Tier II bank within a year of its creation,” the SBM chairman said. In the financial year ended December 31, 2017, SBM Bank (Kenya) posted a loss of Sh330 million, being an improvement from a loss of Sh1.86 billion in the previous financial year.

Source: Standard Digital April 23, 2018 21:00 UTC