Blow to SBM Bank, reprieve for Naivasha hotel in Sh29m loan row

An SBM Bank Kenya branch in Nairobi CBD. SBM acquired Chase Bank assets.

Photo credit: File | Nation Media Group

A court has dismissed SBM Bank Kenya's bid to lift a seven-year-old injunction against recovery of a Sh29.3 million debt from a tourists resort in Naivasha, upholding an interim order protecting the luxury hotel's prime properties from auction.

The debt is part of an unspecified amount of loan advanced to the hotel, Lake Naivasha Crescent Camp Limited, by the bank's predecessor Chase Bank in 2017.

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