CBK keen to get Chase Bank back on its feet

March 28, 2017 (4 weeks ago)
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Chase Bank was placed under receivership in April 2016 following a bank run after reports of its liquidity hurdles gained traction online/FILE

, NAIROBI, Kenya, Mar 28 – The Central Bank of Kenya is committed to returning Chase bank back in the sector but is yet to finalize on a suitable potential buyer. 

CBK Governor Patrick Njoroge says the move would be a strong signal of stability in the banking sector.

The regulator had earlier planned to complete its acquisition by the end of March after eight potential buyers expressed interest including Kenya Commercial Bank.

Chase Bank was placed under receivership in April 2016 following a bank run after reports of its liquidity hurdles gained traction online.

KCB later took over management of the bank with a plan to fine tune the modalities of an acquisition.

So far Chase Bank has been allowed to do all transactions including foreign exchanges and issuing loans.

The bank’s new customers hit 13,000 as of last week, signaling confidence in the institution.

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