Wednesday, 3 May 2017

Suitors line up to take over Chase Bank

12 investors have expressed interest to take an equity interest in Chase Bank (Kenya) Limited (In Receivership) (“CBL” or “the Bank”),
This is comprised of three Kenyan banks, four foreign banks, and five other financial institutions and consortia
The evaluation of the EOIs has  been completed and a shortlist of qualifying investors (“Shortlisted Investors”) has been identified.
The Shortlisted Investors were determined using appropriate and objective criteria based on, inter alia, regulatory imperatives and prudential guidelines which will ensure a speedy and optimal recovery for depositors, creditors and other stakeholders of chase bank limited, whilst also mindful of seeking to preserve and develop a sound and innovative banking system in Kenya.
Shortlisted Investors and other respondents have been informed of the outcome of this process. Shortlisted Investors will be granted access to comprehensive confidential data that will allow them to develop a formal proposal for taking an equity interest in chase bank limited.
Shortlisted Investors have been requested to submit their formal proposals by June 9, 2017, 5:00 p.m. (East African Time).