The Central Bank of Kenya has announced that Mauritian lender SBM Holdings has began acquiring Chase Bank (Kenya) through its Kenyan subsidiary SBM Kenya.
"This follows CBK’s approval on June 13, 2018, for SBM Kenya to acquire certain assets and liabilities of Chase Bank as provided under Section 9 of the Banking Act and under the Central Bank Prudential Guidelines. Subsequently, approval was granted by the Cabinet Secretary, National Treasury on June 28, 2018," CBK said in a statement.
