SBM Bank Holdings seeks to block Fidelity owners’ claim of Sh2.5bn

SBM Bank Holdings wants the High Court to suspend a ruling delivered last month allowing shareholders of Fidelity Commercial Bank (FCB) to pursue compensation of Sh2.5 billion over the acquisition of the Kenyan lender in 2017.

The financier returned to the High Court last week seeking suspension of the ruling delivered by Justice Alfred Mabeya on July 28, which gave former shareholders of FCB the nod to fight the matter in court as opposed to arbitration as advanced by SBM Bank.