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Board of troubled Fidelity Bank approves Mauritian group takeover bid
Fidelity Bank along Nairobi's Kaunda Street. The proposed acquisition would mark the entry of SBM into Kenya’s banking sector, using it as springboard into the East African region. FILE PHOTO | SAMMY KIMATU
The Fidelity Commercial Bank Ltd board of directors has approved a deal to sell the lender to Mauritian financial services group SBM Holdings.
The Central Bank of Kenya (CBK) disclosed Wednesday the nod by the board of the small sized Kenyan lender was given in an extra-ordinary meeting of the bank's shareholders.
