Chase Bank collapse rumors not true – CBK Governor

April 6, 2016
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NAIROBI, Kenya, April 6 – Central Bank of Kenya Governor Dr. Patrick Njoroge has said the rumours about Chase Bank collapse are ‘malicious’ and not true.

“Can you shout fire in a theatre?” posed the Governor.

The CBK Governor was responding to questions from the media at a press conference where he addressed the current state of the financial sector.

Messages circulating on social media platforms warning of trouble at Chase Bank emerged Tuesday evening and Wednesday morning.

The rumours may have been fueled by a loss of Sh792 million in 2015 compared to Sh2.3 billion profit reported in 2014. Recent incidences at National Bank of Kenya and Imperial Bank may also have contributed to the anxiety.

National Bank sent the CEO and five top managers on compulsory leave following a Sh1.2B loss and alleged mismanagement.

Chase Bank says it is aware of the rumours terming them “malicious and irresponsible.”

“We would like to assure our customers and partners that Chase Bank is a strong, sound and transparent intuition that has operated on Kenya for the last 20 years,” says a Tweet sent by @ChaseBankKenya

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