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Mauritius fund pays Sh728m for Credit Bank stake

Kenyan currency notes

Credit Bank is grappling with a surge in gross Non-Performing Loans.

Photo credit: Shutterstock

By  Patrick Alushula

Business Reporter

Nation Media Group

What you need to know:

  • Shorecap III Limited completed the deal in June 2023.
  • Lender grappling with a surge in gross Non-Performing Loans.

Mauritian-based private equity fund last year paid Sh728 million for a 20 percent stake in Credit Bank, valuing the lender at Sh3.64 billion.

Shorecap III Limited completed the deal in June 2023, with the two parties keeping the value of the deal undisclosed at that time. 

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