SBM inherited Sh12.5bn CBK boost in banks buy

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SBM Bank branch in Nairobi. FILE PHOTO | NMG

Central Bank of Kenya (CBK) pumped Sh12.5 billion into two struggling lenders before their sale to the State Bank of Mauritius (SBM), the bank has said.

SBM said it inherited Sh2.8 billion liquidity support from Fidelity Commercial Bank and Sh9.7 billion from Chase Bank when the lender bought the pair to make an entry into the Kenyan market five years ago.

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