Chase Bank set to close 10 branches on SBM takeover

Depositors queue to withdraw cash from a Chase Bank ATM. FILE PHOTO | NMG 

Chase Bank is set to close some of its branches spread across the country following the ongoing takeover of some of its assets by the Mauritian lender SBM Group.

The troubled lender, whose key banking services such as debit card transactions and mobile money transfer services are yet to resume following an ICT system outage two weeks ago, on Friday said 10 of its outlets will be shut down by August 20, in a move which could see hundreds of its employees rendered jobless.

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