A chase bank branch.[Photo/Yulate]Mauritius firm SBM Holdings will now acquire 75 per cent of the value of certain deposits of Chase Bank.

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According to Central Bank of Kenya the firm will also take charge of plus matched liabilities.

Chase Bank has been under recervoirship since 2016 and CBK has been looking for a potential investor.

Depositors at Chase will have access to 75 per cent of their deposits in the next few months.

“On the loans side, it will take a bit more time,” Njoroge said. 

The governor stated that SBM also intended to take up the maximum number of Chase staff and branches but did not give details.

The CBK has not found a solution for the remaining 25 per cent of Chase not acquired by SBM, Njoroge said.