According to the Bank which is under receivership, the restoration of the services is part of plans to normalise its operations/FILE
NAIROBI, Kenya, May 13 – Chase Bank customers can now access banking services such as Electronic Funds Transfers, Trade Finance, Foreign Exchange transactions and cheque clearance facility among others.
According to the Bank which is under receivership, the restoration of the services is part of plans to normalise its operations.
Paul Russo the Receiver Manager said that the bank’s customers especially had given the institution a lot of support which enabled them to resume operations.
“Over the last two weeks, we have reached crucial milestones towards getting Chase back to full flight. We have seen massive support from our customers who have stood with us and we are keen at remaining firmly focused on our customer service objectives and we remain committed to the core values of enabling our customers,” Russo said.
Other services that have since resumed since its reopening a fortnight ago include gradual increase in deposits and account opening transactions occurring across the Chase Bank network.
Real Time Gross Settlements and Agency Banking are also some of the services that Chase Bank has reactivated.
Additionally, the activation of Chase Bank’s agency network and trade finance services, such as bid bonds and cash backed guarantees, were also singled out for having played a significant role in providing clients with channels to carry out various transactions.
Chase Bank was placed under receivership by the Central Bank of Kenya owing to unsound business conduct.
Kenya Commercial Bank (KCB), Kenya’s largest bank by assets, was however appointed the receiving manager by the Kenya Deposit Insurance Corporation (KDIC) under which it was reopened.
KCB Group CEO Joshua Oigara on his part said that the progress made by Chase Bank is an indicator of the trust that Kenyans have in the country’s banking system.
“The return of Chase Bank (IR) back to normal operation is a confidence story for Kenya’s banking sector. We will continually engage all stakeholders to ensure we rebuild Chase together,” he said.
