State Bank of Mauritius Holdings gets nod to take over Chase Bank assets

Chase bank customers view a notice pinned on the entrance of the bank's River road branch in Nairobi after it was placed under receivership for one year by Central bank of Kenya on 07/04/2016. Photo WILLIS AWANDU

The State Bank of Mauritius Holdings (SBMH) on Tuesday announced the Central Bank of Kenya had accepted its proposal to buy some of Chase Bank’s assets.

SMBH Chairman Li Kwong Wing said in a statement the proposed transaction is subject to legal and financial due diligence as well as regulatory approvals.