This archive report was first published on 12 July 2021.
On July 12, 2021, the High Court issued a temporary injunction against SBM Bank, preventing the lender from listing Samchi Telecommunications on the Credit Reference Bureaus.
The court's decision came after the telecommunications company argued that the bank had listed it twice on CRB over a disputed debt.
According to the company, the bank had threatened to list it on CRB in a letter dated January 14, 2021, and had also listed it on Trans-Union Credit Reference Bureau, which later delisted it after the bank failed to provide supporting documentation.
The company's group advisor, Njeru Karuana, argued that the bank's actions had damaged the company's reputation and good standing.
However, SBM Bank opposed the application, arguing that the company owed the bank huge sums of money, which they were trying to rightfully claim.
The bank's Special Assets and debt Management Unit Manager, Pesian Ketere, argued that the company had not settled a debt of Sh. 53,855.004.13, as indicated in a communication from Absa Bank Kenya dated May 22, 2017.
