KDIC has been appointed as Chase Bank’s receiver-manager

It took less than 12 hours for Kenya’s Chase Bank, a mid-tier lender, to go from telling its clients and sharerholders that all is well, to landing in receivership for a year. With its fall, the number of banks which are either in receivership or liquidation in Kenya, comes to 4. All of this has happened since Dr. Patrick Njoroge took over as Governor of the Central Bank. When CCTV’s Ramah Nyang spoke to the CEO of the Bank’s association, he asked why the Central Bank would not have been able to save Chase Bank, as a lender of last resort

Kenya Deposit Insurance Corporation (KDIC) has been appointed as Chase Bank’s receiver-manager