It has now emerged that the Fidelity Commercial bank had been acquired for a mere Sh100 by a Mauritius firm. 

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SBM Holdings Ltd – a leading financial services group based in Mauritius and with strategic investments in the region. 

Following the acquisition, the Mauritius-based company will take over the ownership of the 14 branches operated by FCB. 

The new owners will inject an additional equity of Sh1.455 Billion which will be used to grow the bank grow its market share in Kenya. 

A statement issued by SBM Holdings on Tuesday confirmed that the firm would seek its investment in FCB to expand in region.