SBM Bank of Kenya's Mauritius unit to sell bad assets.

Global Banking News-October 29, 2018--SBM Bank of Kenya's Mauritius unit to sell bad assets

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Global Banking News - 29 October 2018

SBM Bank of Kenya's Mauritius unit is to sell properties and motor vehicles to recover bad debts.

The bank had inherited KES13bn of bad assets from Chase Bank, which had collapsed and was later acquired by it.

Central Bank of Kenya (CBK) governor, Patrick Njoroge, had said recently that half of the KES26bn non-performing loans (NPLs) in the...

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