The Mauritian lender is set to complete the acquisition of certain assets and assumption of certain deposits of Chase Bank, which is under receivership, on August 17 and launch the rebranded branches three days later.
The acquisition will see SBM Group rebrand and open majority of Chase Bank branches and start serving customers on August 20.
“Dear esteemed customer, as you may be aware, this transition is being undertaken on the basis of acquisition of certain assets. In view of this, the following branches effective August 2018 will no longer be operational,” said the lender in a notice to its customers on Friday.
Some of the branches earmarked for a closure includes Kisumu Xpress located at Naivas Supermarket, Pangani Xpress at Oil Libya, the Parklands branch located at Medi Plaza and Delta Branch located at PWC Towers in Westlands, Nairobi.
Other branches affected are City Centre Branch located at the Prudential Building, Garissa branch at Lilac Centre, Kayole branch at Shujaa Mall and the Eastleigh branch at Sunrise Mall.
Chase Bank collapsed in 2016 with deposits of more than Sh100 billion, part of which was returned to small depositors while it was under the care of the CBK.
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