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Mauritian bank SBM formally takes over Chase Bank

A Chase Bank branch in Nairobi. The lender's is Mauritius SBM's second acquisition in Kenya after Fidelity Bank. PHOTO | NMG

By  BUSINESS DAILY

Nation Media Group

Mauritian lender SBM Holdings has formally taken over troubled Chase Bank following the conclusion of a sale deal.

The Central Bank of Kenya (CBK) and the Kenya Deposit Insurance Corporation (KDIC) said Tuesday they had concluded the signing of the acquisition deal with the lender and SBM group earlier announced early this year.

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