Robert Shibutse News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Kenya's Bold Newspaper. Find the latest news in politics, business, entertainment, sports, live radio and TV

Spire Bank in sale talks after exit of billionaire Merali Summary The loss-making lender says four investors are conducting due diligence and that a deal could be concluded before the end of the year. The bank is no longer lending, with a negative capital position. Monday May 03 2021 By PATRICK ALUSHULA Summary The loss-making lender says four investors are conducting due diligence and that a deal could be concluded before the end of the year. The bank is no longer lending, with a negative capital position. Loss-making Spire Bank is in sale talks with four separate investors in the quest for ...

Merali’s Sh1.7bn withdrawal that sank teachers' Spire Bank Thursday April 29 2021 By PATRICK ALUSHULA Summary The bank lost Sh2.2 billion in the three years following Mr Merali’s move, with the withdrawal of 81.3 percent of the cash or Sh1.79 billion happening in under a year. Mwalimu, which is owned by teachers, first acquired a 75 per cent stake in the lender, which was then operating as Equatorial Commercial Bank, and was owned Mr Merali. The bank is no longer lending, with a negative capital position. Tycoon Naushad Merali withdrew Sh1.7 billion from Spire Bank days after selling the ...