Tag: Chase Bank
The Ksh14 Billion Hole That Was Used To Steal From Chase Bank
At least Ksh14 billion marked as outstanding interest was lost before Chase Bank collapsed, a Capital Markets Authority (CMA) investigation report has revealed.
According to...
Chase Bank Set for Liquidation to End 5-Year Saga
On April 7, 2021, KDIC submitted the Receiver’s Report to CBK recommending that CBLIR be liquidated. The report indicates that considering the weak status of CBLIR’s financial position, liquidation is the only feasible option.Â
KCB ends Chase Bank receivership role
This follows the Central Bank of Kenya’s approval of the transfer of selected assets and liabilities of the lender to SBM Bank Kenya
Banks slow down acquisitions and mergers
XINHUA -
Only one acquisition has been recorded so far IN 2018, a departure from last year where the country registered four, with more banks expressing interest in acquiring others
SBM to inject Sh6b into Chase Bank
Move provides hope to large depositors of the Kenyan bank, which collapsed in 2016, as they could start accessing their cash in the next six months
SBM eyes more deals after Chase Bank acquisition
Mauritian lender says the landmark transaction will enable it to grow inorganically, taking SBM Kenya from 31st to 11th place as a strong Top Tier II bank within a year of its creation
SBM concludes acquisition of 75% Chase Bank stake
Under the agreement, Chase Bank customers will have access to 75% of the Ksh 76 billion in deposits once the bank is re-opened
Chase Bank can’t trace Sh4.5b mortgage defaulters
This makes up a quarter of the total loans that were abandoned when the bank was momentarily closed and later partially opened as borrowers took advantage of the lender’s woes
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BUSINESS
Borrowers Tie Lenders in Web of Litigation as Defaults Rise
In early June, Equity placed TransCentury and East Africa Cables under receivership after declining a request to write off over Ksh2.8 billion ($20 million) debt owed by TransCentury Plc and another Ksh1.948 billion owed by its subsidiary.
NEWS
SasaPay To “Pay SMEs To Get Paid” Via New Cash-Back Model
SasaPay has introduced a new cash-back model designed to...
SPORT
Gor Mahia Fan Who Correctly Predicted 15 Out of 17 Games Wins Millions
The 30-year-old, also an avid follower of English Premier League giants Manchester United, came close to the grand prize of Ksh334,783,843 SportPesa Jackpot.
NEWS
In Race for African Leadership Award, Ruto Faces Tough Opposition
Among the contenders of the prestigious African of the Year award is Kenya’s President William Ruto, who will be battling it out with President Hakainde Hichilema of Zambia and Prof. Benedict Okey Oramah, President of Afrexim Bank.
SMART MONEY
Transforming Financial Inclusion: The Impact of M-Pesa in Kenya and BeyondÂ
Discover the profound impact of M-Pesa on financial inclusion in Kenya and beyond. Explore how this innovative mobile service revolutionizes transactions and shapes the future of finance globally.