A number of Chase Bank employees sacked

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Andrew Bainbridge, the Chief Executive of SBM Holdings, says only 800 staff will work in the Kenyan unit which is compromised of employees of the former Fidelity Bank and Chase Bank. The Mauritius lender is set to rebrand the acquired Chase Bank branches and reopen on August 20 following the exit of receiver manager, KCB. Chase Bank is estimated to have about 1,300 employees. Apart from the job losses, the employees who will be left out will have to grapple with another pain of uncertainty facing the 600 million Shillings they pumped into Chase Bank under the employee share ownership plan established in 2006.

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