Chase Bank now State Bank of Mauritius as it turns over a new leaf

Central Bank Governor Patrick Njoroge (third left), SBM Group Chairman Kee Chongli Kwong Wing (second right) and other officials at the opening of the new SBM branch at Riverside Drive in Nairobi on Monday. [Courtesy]

Chase Bank is now officially State Bank of Mauritius (SMB), with the erstwhile troubled lender reopening its doors to the public on Monday.

The reopening and name change marked the culmination of the country’s first ever carve-out deal in the banking sector.