Prime

New Chase Bank owner in Sh725m deposit row over legal notice hitch

Collapsed Chase Bank outlet in Nairobi. FILE PHOTO | NMG

By  Brian Wasuna

Business Reporter

Nation Media Group

Mauritius-based Afrasia Bank has sued SBM Bank (Kenya), seeking to recover $7.5 million (Sh765 million) it had deposited in Chase Bank on March 18, 2016.

The money was placed in a one-month fixed deposit account earning interest of 2.35 per annum.

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