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The Standard Group Plc is a
multi-media organization with investments in media platforms spanning newspaper
print operations, television, radio broadcasting, digital and online services. The
Standard Group is recognized as a leading multi-media house in Kenya with a key
influence in matters of national and international interest.
KCB expects to complete a due diligence on Chase Bank (in receivership) in slightly over 30 days. The lender, Kenya’s largest commercial bank by assets, will then use its findings to make a decision on whether to acquire a controlling stake in the mid-tier lender or not.
KCB Group Chief Executive Officer Joshua Oigara said the lender is in discussions with the receiver Kenya Deposit Insurance Corporation (KDIC) on how to proceed with the comprehensive due diligence.
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