The Central Bank of Kenya (CBK) has announced that 12 investors have expressed an interest in acquiring an equity stake in Chase Bank. An announcement was made on March 30th, 2017 inviting investors to present an initial Expression of Interest (EOI) to take an equity interest in the bank, with the deadline for submission being April 21, 2017.
In a statement released by CBK, 12 investors expressed interest, “The respondents comprised of three Kenyan banks, four foreign banks, and five other financial institutions and consortia.” According to the CBK, the process of evaluating the EOIs has been completed and a shortlist has been made. The identification of the shortlisted investors was done under certain criteria which include; Inter alia, regulatory imperatives and prudential guidelines which will ensure a speedy and optimal recovery for depositors, creditors and other stakeholders of CBL, whilst also mindful of seeking to preserve and develop a sound and innovative banking system in Kenya.
The shortlisted investors will be granted access to comprehensive confidential data and have been requested to submit their formal proposals by June 9th this year by 5pm, “Shortlisted investors will be granted access to comprehensive confidential data that will allow them to develop a formal proposal for taking an equity interest in CBL,” read the CBK statement.