Mauritius lender to acquire troubled Chase Bank

Depositors try to get some money from the Fontanela Chase Bank branch's ATM in Mombasa soon after all branches country-wide were re-opened under the receivership of KCB, April 27, 2016. Depositors were only allowed to withdraw a maximum of Sh1 million and below. [Gideon Maundu| Standard]

Many suitors came, saw but stepped back. But after 20 agonising months for Chase Bank depositors, Mauritius lender SBM Holdings will soon acquire the troubled firm.

According to the Central Bank of Kenya (CBK), the binding offer from Mauritius’ second-largest lender has been accepted and will include acquisition of certain assets and matched liabilities from Chase Bank.